Toshiba logs surprise quarterly operating loss on higher materials costs

FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Toshiba Corp on Wednesday posted an unexpected operating loss in the April-June first quarter as it grappled with a global chip shortage and a sharp rise in costs for raw materials.

The loss of 4.8 billion yen ($35.6 million), its first quarterly loss in two years, compares with a profit of 14.5 billion yen a year earlier and a consensus estimate of a 19.4 billion yen profit from four analysts polled by Refinitiv.