Sony back in black during first quarter


29 Jul 2010

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Japanese electronics giant Sony has returned to profit during its fiscal first quarter, thanks to strong sales of its televisions, computers and PlayStation consoles. The company also revised its operating income forecast upwards by 20pc for the full year.

Sony reported net income of 25.7 billion yen (US$294) for the quarter ended June 2010, compared to a net loss of 37.1 billion yen reported in the same quarter last year.

Sales rose by 3.8pc during the quarter to 1,661 billion yen (US$18.66bn) compared to Q2 2009.

Sony also said it was revising its operating income forecast for the fiscal year ended March 2011 upwards by 20pc to 60 billion yen, even though it noted that further appreciation of the yen against the euro is expected for the remainder of the fiscal year.

Article courtesy of Businessandleadership.com

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