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Panasonic posts 39% drop in Q1 operating profit, misses estimate

Panasonic posts 39% drop in Q1 operating profit, misses estimate

Reuters · 07/28/2022 02:34
Panasonic posts 39% drop in Q1 operating profit, misses estimate

- Japan's Panasonic Holdings Corp PCRFY said on Thursday first-quarter operating profit fell to 63.7 billion yen ($470.60 million)from 104.4 billion a year earlier, when profits rose on pandemic-fuelled demand for home appliances and car batteries.

Earnings for the three months to June 30 missed an estimated mean of 73.3 billion yen from analysts, according to Refinitiv.

($1=135.3600 yen)


(Reporting by Satoshi Sugiyama; Editing by Clarence Fernandez)

((Satoshi.Sugiyama@thomsonreuters.com;))