Sharp rebounds to Q3 profit, holds full-year forecast

TOKYO Fri Feb 1, 2013 12:45pm IST

The logo of Sharp Corp is displayed on its Aquos television at an electronics store in Tokyo January 15, 2013. REUTERS/Toru Hanai/Files

The logo of Sharp Corp is displayed on its Aquos television at an electronics store in Tokyo January 15, 2013.

Credit: Reuters/Toru Hanai/Files

Related Topics

Stocks

   
Polluted waters of China

Polluted waters of China

Growing cities, overuse of fertilizers, and factory wastewater have degraded China's water supplies to the extent that half the nation's rivers and lakes are severely polluted.  Slideshow 

TOKYO (Reuters) - Sharp Corp (6753.T) rebounded to a third-quarter operating profit on Friday, improving the bailed-out consumer electroncs maker's chances of convincing lenders and shareholders that it is a viable company.

In the three months to December 31, Sharp posted an operating profit of 2.6 billion yen, compared with a loss of 24.4 billion yen a year ago. The result was ahead of an average 230 million yen loss estimated by seven analysts surveyed by Thomson Reuters I/B/E/S.

The maker of Aquos TVs stuck with its forecast for a full-year operating loss of 155 billion yen compared with an average 152 billion yen loss expected by 19 analysts.

Sharp in October secured a $4.4 billion bailout from banks but had to mortgage its offices and factories in Japan to secure the loans. It also pledged to trim its workforce by 10,000 people and sell off assets.

(Reporting by Tim Kelly; Editing by Richard Pullin)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Tech Buzz

TECH SHOWCASE

E-Commerce in India

E-Commerce in India

Amazon says to invest $2 billion more in India.  Full Article 

'Gifts' Junked

'Gifts' Junked

Facebook to shut down Gifts service in latest e-commerce shift.  Full Article 

'Selfie' Phone

'Selfie' Phone

Microsoft gives employees sneak peek at new 'selfie' phone.  Full Article 

E-book Pricing

E-book Pricing

Amazon says lower ebook prices benefit authors, publishers.  Full Article 

MacBook Prices

MacBook Prices

Apple updates MacBook Pro laptops, cuts price of older model.  Full Article 

Spring Shoes

Spring Shoes

A new boot design to put a spring in your step.  Video 

BlackBerry Deal

BlackBerry Deal

BlackBerry buffs up security credentials with Secusmart deal.  Full Article 

Useful App

Useful App

Always misplacing keys, wallet? Lost and found apps may help.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage