Sony April-December Net Profit Down A Third, Forecast Up

Sony said Tuesday net profit fell over 30 percent in the nine months to December, but upgraded its annual net profit forecast on solid growth in its image sensor and financial services sectors

Tokyo, (UrduPoint / Pakistan Point News - 4th Feb, 2020 ) :Sony said Tuesday net profit fell over 30 percent in the nine months to December, but upgraded its annual net profit forecast on solid growth in its image sensor and financial services sectors.

The PlayStation manufacturer said net profit dropped 31.2 percent to 569.55 billion Yen ($5.22 billion) for the April-December period, and forecast annual net profit of 590 billion yen, up from an earlier 540 billion yen forecast.

Negative impact from the foreign exchange rate was partly to blame for the fall in net profit, but expected sales growth in the image sensor business and financial services sector contributed to the upwards revision of the full-year net profit, the company said.

In the April-December period, the firm posted sales of 6.51 trillion yen, down 0.4 percent year-on-year, and operating profit of 810.01 billion yen, down 0.2 percent.

For the full-year, the company expects a 8.5 trillion sales and 880 billion yen operating profit.