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

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’s prediction for the April-Sept quarter, it was a surprise for analysts who estimated losses to be 3.43B yen.

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