* Y10.22 bln Q3 oper profit vs market fcast Y26 bln
* Weak TV, PC prices outweigh NAND price recovery gains
* Shares close down 2.9 pct vs 1.9 pct fall in elec index
TOKYO, Jan 29 (BestGrowthStock) – Toshiba Corp (6502.T: ), Japan’s
biggest chipmaker, kept its outlook below market estimates on
rising materials costs and tumbling TV and PC prices after
posting a smaller-than-expected operating profit.
Toshiba, which owns U.S. nuclear firm Westinghouse, is
fighting to clinch nuclear power plant orders, while it tries to
expand in lithium-ion batteries and power grids to balance out
chip price volatility.
Toshiba, the world’s No.2 maker of NAND-type flash memory
chips after Samsung Electronics Co (005930.KS: ), kept its annual
operating profit outlook at 100 billion yen ($1.1 billion), below
a consensus average of 136 billion yen by 21 analysts polled by
Thomson Reuters I/B/E/S.
Toshiba, which supplies chips to Apple Inc (Read more about Apple stock future.) (AAPL.O: ), earned
an operating profit of 10.22 billion yen in October-December, up
from a loss of 157.68 billion yen a year ago but missing a market
consensus of 25.7 billion yen.
Its quarterly net loss came to 10.63 billion yen, compared
with a 121.1 billion yen loss the previous year on a 6 percent
rise in sales.
Ahead of the news, its shares fell 2.9 percent,
underperforming a 1.9 percent fall in Tokyo’s index of electrical
machinery stocks (.IELEC.T: ). The stock gained 8.5 percent in the
past quarter, outpacing a 3 percent rise in the index.
Stock Basics
(Reporting by Mayumi Negishi; Editing by Anshuman Daga)
UPDATE 1-Toshiba keeps outlook, still wary
