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Toshiba Q2 operating profit up 76 percent

Staff Writer |
Toshiba reported a 76 percent jump in second-quarter operating profit, driven almost entirely by a strong performance from its memory chip unit which it recently agreed to sell for $18 billion.

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The robust results on the back of soaring demand for chips used in smartphones and data center servers underscore the difficulty Toshiba will face in generating substantial earnings once the unit - the world’s No. 2 producer of NAND flash memory semiconductors - is sold.

Operating profit for July-September jumped to 135 billion yen ($1.2 billion), its best-ever result for a second quarter and beating a consensus estimate of 125 billion yen.

Its chips and devices division accounted for 97 percent of that profit.

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