Hitachi falls to quarterly loss, keeps outlook

TOKYO, July 28 (Reuters) - Hitachi Ltd (6501.T), Japan's biggest electronics maker, tumbled to a quarterly net loss amid weak microchip and consumer electronics sales and reiterated its forecast for a third straight annual loss.

Hitachi, which is trying to consolidate its sprawling operations, reported on Tuesday a loss of 82.7 billion yen ($870.5 million) in April-June, its fiscal first quarter, down from last year's profit of 31.56 billion yen and roughly in line with an estimate for a loss of 79.9 billion yen by JP Morgan.

It stuck to its forecast for a net loss of 270 billion yen for the year to March, its third straight year of losses. The forecast misses the consensus average for a 246 billion yen loss by 13 analysts polled by Thomson Reuters and would further eat into Hitachi's weakened capital.

Sharp cuts worldwide in corporate spending have hurt Hitachi's cash cows such as Hitachi Metals (5486.T), Hitachi High Technologies (8036.T) and Hitachi Chemical (4217.T), even as the parent company struggles to restructure its chip and consumer electronics operations.

Hitachi shares rose 13 percent in April-June, underperforming a 25 percent gain in Tokyo's electrical machinery subindex .IELEC.T. (Reporting by Mayumi Negishi; Editing by Dhara Ranasinghe)