Sharp’s net revenue falls amid the coronavirus pandemic

06.11.2020 - Davydova Maria
Sharp’s net revenue falls amid the coronavirus pandemic

On Friday, Sharp Corporation (TYO: 6753) announced that its second-quarter operating revenue dropped by 17.1% as the coronavirus outbreak continued to hit its sales of automotive displays and office printers.

The Japanese multinational corporation reported that it gained 18.5 billion Yen ($178.67 Million) operating revenue from July to September 2020 compared to its 22.3 billion Yen net profit last year.

According to Refinitiv’s IBES data, Apple’s (AAPL) producer of sensors, camera modules, and screens topped analyst estimates worth 17.52 Million Yen.

“We continue to expect a steady recovery if economic activity is not restrained (by the pandemic),” Sharp Corp’s President Katsuaki Nomura said in an interview.

He stated that there were also signs of a resurgent spread of the coronavirus in Japan. Moreover, the firm would closely watch the situation while working towards lowering the risk of supply chain disruptions.

 

 

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