Print Edition - 2017-04-22  |  Money Digest

Sony triples annual forecast

- AFP, TOKYO

Apr 22, 2017-

Sony on Friday nearly tripled its annual net profit forecast, citing lower-than-expected costs in its chip business and other divisions, including the PlayStation games business. The Tokyo-based firm is now expecting net profit of 73 billion yen ($668 million) for the fiscal year to March, well up from its last forecast of 26 billion yen. The latest projection brings Sony closer to a 80 billion yen profit forecast issued in May last year. It then cut it several times, including the last in February when it cited a nearly $1 billion writedown at its movie unit, restructuring costs and foreign exchange fluctuations.On Friday, Sony also upgraded its annual operating profit to 285 billion yen from an earlier 240 billion yen, and kept its revenue projection at 7.6 trillion yen. 

Published: 22-04-2017 09:16

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment