Toshiba returns to Q1 profit, in line with estimates

TOKYO: Japan’s Toshiba Corp on Thursday reported a first-quarter operating profit that was in line with analyst estimates, helped by cost cuts and a recovery from a pandemic-driven hit to demand.

The Japanese conglomerate, which is conducting a strategic review, posted an operating profit of 14.53 billion yen ($132 million) for the April-June quarter, reversing a year-earlier loss of 12.64 billion yen.