Friday, 24 March, 2023

Toshiba posts operating loss of $118M for the first time in 4 years

<p>Toshiba reported its first quarterly operating loss in nearly four years (last seen in 2016). COVID-19 pandemic hit the demand for its electronics and other products. The company posted an operating loss of 12.6B yen ($118M) for the April-June quarter, versus a year-before profit of 7.83B yen. While the losses were in alignment with Toshiba&rsquo;s prediction for the April-Sept quarter, it was a surprise for analysts who estimated losses to be 3.43B yen.</p>