Toshiba profits up fivefold in Q1
Afp,Tokyo
Japanese high-tech giant Toshiba said Friday net profit jumped more than fivefold to a first-quarter record, lifted by strong sales of memory chips used in music players such as Apple's iPod. Toshiba Corp. sharply raised its interim earnings forecast and said it was reviewing its full-year targets in light of the strong performance, which came despite a poor report on cellphones and liquid crystal displays. Net profit rose to 20.6 billion yen (174 million dollars) in the three months to June from 4.0 billion yen a year earlier, a company statement said. Operating profit gained a more modest 1.9 percent to 21.2 billion yen while revenue rose 14.6 percent to 1.66 trillion yen.
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