UPDATE 1-Sharp posts lower-than-expected profit as trade gloom hits electronics demand [Reuters]
SHARP CORP UNSP/ADR (SHCAY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
UPDATE 1-Sharp posts lower-than-expected profit as trade gloom hits electronics demand - Reuters 2 Min Read * Q1 profit 14.6 bln yen vs 18.84 bln yen consensus estimate * Maintains annual profit forecast at 100 bln yen (Adds background) TOKYO, Aug 1 (Reuters) - Sharp Corp reported a lower-than-expected quarterly operating profit, as an escalating trade war between the United States and China dampened demand for its electronics devices and television sets. The trade dispute, punctuated by tit-for-tat import tariffs spanning industries, has slowed demand for consumer electronics worldwide, hitting both Sharp and its Taiwanese parent Foxconn , the world’s largest contract manufacturer. Sharp, which makes sensors, camera modules and screens for Apple Inc’s iPhones, posted an operating profit of 14.61 billion yen ($133.82 million) for the first quarter ended June, down from 24.8 billion yen a year prior. That compared with an 18.84 billion yen average of five analyst estimates compiled by
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