Toshiba gains storage business picks up in third quarter
Source: Internet
Author: User
KeywordsFinancial quarter net loss memory chip Toshiba Company
According to foreign media reports, Toshiba Corporation of Japan (Toshiba Corp.) Friday last 10-December net losses narrowed from a year earlier, largely because of a notable rebound in the memory-chip business that previously weighed on the company's profits, thanks to strong demand and higher prices. Toshiba reported a net loss of 10.63 billion yen in the third fiscal quarter, which narrowed markedly from a net loss of 121.14 billion yen a year earlier. Analysts polled by Thomson Reuters had expected Toshiba to achieve a profit of 1.52 billion yen in the third quarter. Operating profit of 10.22 billion yen in the quarter, reversing the operating loss of 157.68 billion yen in the same period last year. Revenue for the third quarter was 1.578 trillion yen, up 6.1% from 1.488 trillion yen a year earlier.
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