Panasonic Corp. posted third-quarter profit that beat analysts' estimates as the television maker stops making plasma sets to speed up reforms and recover from back-to-back annual losses.
Net income rose 20 percent to ¥73.7 billion in the three months that ended Dec. 31, the Osaka-based company said in a statement Tuesday. That beat the ¥44 billion average estimate of three analysts surveyed by Bloomberg News.
Operating profit more than tripled to ¥116.6 billion in the quarter, on a 10 percent increase in sales to about ¥2 trillion. The company kept unchanged its forecasts of annual net income at ¥100 billion.