Toshiba on Thursday reported an operating profit of 14.53 billion yen for the fiscal first quarter ended June, reversing a loss of 12.64 billion yen a year earlier, thanks to cost cuts and a recovery in demand from the pandemic.
This performance is basically in line with market expectations. Analysts surveyed by Refinitiv on average expect the company to make an operating profit of 14.9 billion yen for the quarter.
Toshiba reiterated its operating profit forecast of 170 billion yen for the current fiscal year.
