Published in PC Hardware

Toshiba goes back into the red

by on12 August 2020

Coronavirus hit

Toshiba Corp reported on Wednesday its first quarterly operating loss in nearly four years as the coronavirus pandemic hit demand for its electronic devices, copiers and chip-making equipment.

The company posted an operating loss of $118 million for the April-June quarter. The result was worse than an average analyst estimatebut in line with Toshiba’s own prediction in June that operating losses in the April-September half may be pants.

Toshiba last suffered a quarterly operating loss in the October-December quarter of 2016, at the peak of a crisis stemming from the failure of its US nuclear power unit Westinghouse.

It maintained its annual profit forecast as down 15.7 percent  from the previous year, avoiding a major downward revision thanks to its public infrastructure businesses that are relatively resilient to a global economic slump.


Last modified on 12 August 2020
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