TOKYO (Reuters) – Japan’s Panasonic Holdings Corp posted on Monday an 11% drop in second-quarter operating profit, but performed better than analysts’ estimates.
It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data.
A year earlier, the company earned 96.8 billion yen.
($1 = 147.8000 yen)
(Reporting by Satoshi Sugiyama; Editing by Edmund Klamann)