Panasonic Profit Misses Estimates as TV Sales Drop
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Panasonic Corp., the world’s largest maker of plasma televisions, reported profit that missed analysts’ estimates after falling prices extended losses at the main TV operations.
Net income rose 24 percent to 40 billion yen ($491 million) in the third-quarter ended Dec. 31, the Osaka-based company said in a statement today. That missed the 44.7 billion yen average of four analyst estimates compiled by Bloomberg. Operating profit unexpectedly fell.