The Strategist

Toshiba's net profit rises by 18% in Q1 of fiscal 2022-23

08/11/2022 - 08:27

According to a statement released by Toshiba Corporation, the world's largest manufacturer of electronics reported net income attributable to shareholders of 25.9 trillion yen ($192 million) in the first quarter of fiscal 2022–2023 (ended June 30), up from 162.4 trillion yen ($162.4 million) a year earlier.

Earnings per share increased from 39.6 yen ($0.35) to 59.85 yen ($0.44). Revenue grew by 2% on a yearly basis to 740.7 billion yen. The operational loss was 4.8 billion yen ($35.5 million) compared to a profit of 14.5 billion yen ($130.9 million) a year earlier.

The figure decreased 3.2% in Japan, where less than half of Toshiba's revenue is generated. Sales increased by 2.4% in Europe and by 8% in North America.

The corporation projected 3.3 trillion yen ($24 billion) in revenue, 170 billion yen ($1.26 billion) in operating income, and 200 billion yen ($1.48 billion) in net income for the fiscal years 2022–2023.