Sharp's third-quarter profit up 38.5%, above estimates
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FILE PHOTO: A logo of Sharp Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo
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TOKYO (Reuters) - Japan's Sharp Corp <6753.T> on Tuesday reported a 38.5% increase in third-quarter operating profit thanks to gains at its smart appliance division and cost reduction efforts.
Sharp, which makes sensors, camera modules and screens for Apple Inc's (NASDAQ: AAPL) iPhones, posted an operating profit of 29.4 billion yen ($270 million) for the October-December quarter, up from 21.2 billion yen a year prior.
The result compared with a 22.98 billion yen average of six analyst estimates compiled by Refinitiv.
Sharp, a unit of Taiwan's Foxconn <2317.TW>, maintained its operating profit forecast for the year ending March at 100 billion yen, versus a consensus estimate of 85.20 billion yen from 10 analysts.
(Editing by Kim Coghill)
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