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6/5, 6:28 AM (Source: TeleTrader)
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Toshiba posts smaller-than-expected FY net loss

Toshiba Corporation announced on Friday that it had a net loss of 114.6 billion yen ($1.05 million) in its fiscal 2019 which ended on March 31, 2020. The figure came in at a smaller loss than analysts had expected and declined by 1.1 trillion yen from last year, despite warnings from the company that its business had been severely impacted by the coronavirus pandemic and the drop in crude oil prices. Toshiba reported a loss per basic share of 236.4 yen (loss of $2.17) in its fiscal 2019.

Net sales for the full year came in at 3.4 trillion yen, declining by 8.2% year on year. Meanwhile, operating income was reported at 130.5 billion yen as it increased by 95.1 billion from the previous fiscal year, mostly due to good results in energy, infrastructure, electronic devices and digital solutions sections.

Toshiba traded 2.42% higher at 6:07 am CET.

Breaking the News / VP