Panasonic's Q1 profit increases 16.9%, in line with estimates
[TOKYO] Japan's Panasonic Corp on Monday reported a 16.9 per cent increase in first-quarter operating profit, mostly in line with analyst estimates, as a shift to advanced automotive parts starts to reward the electronics giant.
Panasonic said April-June profit rose to 83.93 billion yen (S$1.03 billion) from 71.81 billion yen a year earlier. That compared with the 86.14 billion yen average of 9 analyst estimates in a poll by Thomson Reuters.
The firm maintained its 335 billion yen operating profit forecast for the year ending March, versus the 344.23 billion yen average of 17 analyst estimates. REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Sony deal for Paramount would draw added regulatory scrutiny
Lululemon to shutter Washington distribution center, lay off 128 employees
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom