Toshiba Corp reiterated its annual operating profit outlook, predicting a four-f...
FILE PHOTO: The logo of Toshiba Corp is seen at its headquarters in Tokyo, Japan January 23, 2017. REUTERS/Toru Hanai/File Photo
TOKYO - Toshiba Corp reiterated its annual operating profit outlook, predicting a four-fold jump as it reaps the reward of major restructuring last year, even as it works to offload its potentially money-losing U.S. LNG business to maintain momentum. The Japanese conglomerate forecast profit of 140 billion yen for the year through March 2020 on Monday, versus 35.4 billion yen a year earlier. It was in line with the target Toshiba set in its five-year plan.
The outlook compared with the 116.35 billion yen average of 16 analyst estimates compiled by Refinitiv. Toshiba’s share price shot up after the firm announced the five-year plan in November, but has since lost 15% partly due to concern over the impact of Sino-U.S. trade friction. The stock was down 3.5% at Monday’s midday trading break.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mallinckrodt jumps 9% after drugmaker beats first-quarter earnings estimates, raises 2019 profit outlookMallinckrodt Pharmaceuticals soared in premarket trading Tuesday after the company released first-quarter earnings that beat Wall Street's expectations and raised its profit outlook for the year.
Read more »
Subaru's annual profit halves; earnings released early after snafuJapanese automaker Subaru Corp said on Friday its operating profit for the past ...
Read more »
Redfin stock slips on mixed outlookRedfin Corp. shares slipped in the extended session Wednesday following an initial rise after the real-estate site gave a mixed outlook. Redfin shares fell...
Read more »
Intel shares sink as executives give three-year outlookIntel Corp shares declined 2.5 percent after executives gave their three-year ou...
Read more »
SailPoint stock plummets more than 20% on disappointing outlookSailPoint Technologies Inc. shares plummeted in the extended session Wednesday after the digital identity governance company's reported a disappointing...
Read more »
Rating analysts weigh in on Illinois' improved pension payment outlookIllinois Governor J.B. Pritzker's announcement on Tuesday that a higher rev...
Read more »
Intel shares drop, three-year outlook seen lagging rivalsIntel Corp shares declined 2.5 percent on Wednesday after executives forecast mo...
Read more »
XFL is returning to L.A., with a cleaned-up act but a dim outlook'Despite the obvious warning signs, this new spring football league is going to plow right through, shrugging off history, blowing off precedent, ignoring the noise.' BillPlaschke writes:
Read more »
Cuba cancels annual Conga Against Homophobia paradeCuban government announced Tuesday that it has cancelled this year's edition of a parade widely seen as a sign of progress on gay rights on the island.
Read more »
Intel CEO to investors over outlook: 'We let you down'Intel Corp. Chief Executive Bob Swan acknowledged Wednesday that the company let investors down for lowering its outlook during its last earnings report....
Read more »
German industry output unexpectedly up in March, outlook subduedGerman industrial output unexpectedly increased in March, helped by higher produ...
Read more »