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Published on 1/11/2019 11:48:22 AM | Source: Reuters

Sharp`s second-quarter profit edges up, exceeds estimates

Posted in Top Stories| #Japan #World Market #Quarterly Result

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TOKYO - Japan's Sharp Corp, an Apple supplier, posted a 0.6% rise in quarterly operating profit on strength in the laptop business it bought from Toshiba.

Sharp, which makes sensors, camera modules and screens for Apple's iPhones, posted an operating profit of 22.3 billion yen ($206.54 million) for the second quarter ended September, up from 22.2 billion yen a year prior.

That compared with a 19.65 billion yen average of 4 analyst estimates compiled by Refinitiv.

Sharp, a unit of Taiwan's Foxconn, maintained its profit forecast for the year ending March at 100 billion yen, versus a consensus estimate of 82.23 billion yen from 10 analysts.

($1 = 107.9700 yen)

(Reporting by Makiko Yamazaki; Editing by Himani Sarkar and Muralikumar Anantharaman)