TOKYO (Reuters) – Japan’s Panasonic Corp on Thursday cut its full-year operating profit forecast even as it posted a 16% rise in third-quarter operating profit to 84.4 billion yen ($653 million).
Panasonic slashed its operating profit forecast by 12.5% to 280 billion yen from 320 billion yen. That compares to a 335.98 billion yen average forecast of 19 analysts surveyed by Refinitiv.
The result for the three months to Dec. 31 also fell short of a mean estimate of 95.31 billion yen profit from nine analysts.
($1 = 128.6800 yen)
(Reporting by Daniel Leussink; Editing by Chang-Ran Kim)
