Japan's Panasonic first-quarter profit falls 7 percent, missing estimates

Reuters News
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Posted: Jul 29, 2015 3:36 AM

TOKYO (Reuters) - Japan's Panasonic Corp on Wednesday booked a 7 percent fall in first-quarter operating profit, missing analyst estimates, attributing the decline to a change in reporting practices.

Operating profit for April-June fell to 76.56 billion yen ($619.02 million) from 82.29 billion yen in the same quarter a year prior, the company said in a statement.

The result compared with the 92.7 billion yen average estimate of 19 analysts, according to Thomson Reuters data.

(Reporting by Joshua Hunt; Editing by Christopher Cushing)