Toshiba reports $722 million profit in Q2

But reduces overall forecast for the year
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Toshiba has had an improved second quarter, with $17.8 billion in sales resulting in profits of $722 million.

Last quarter the vendor reported losses of $154 million, however, despite this improvement in performance, Toshiba has reduced its yearly forecasts by $500 million as it expects lower sales and profits.

“The downturn in the global economy deepened on continuing financial uncertainty in some European countries and a slowdown in growth rates in some emerging economies, including China and India,” read Toshiba’s report.

“The Japanese economy also remained severe, due to negative impacts from overseas. Looking to the future, there are concerns that a sharp austere financial policy on the United States will add to downward momentum.”

The strongest performing part of the company was its social infrastructure division, which deals with things like railways, environmental systems and electricity provision.

Digital products, home appliances and electronic devices performed poorly due to reduced demand.

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