Sony Net Profit Dips On-year But Beats Estimate

Mohammad Ali (@ChaudhryMAli88) Published May 14, 2024 | 01:40 PM

Sony net profit dips on-year but beats estimate

Tokyo, (APP - UrduPoint / Pakistan Point News - 14th May, 2024) Sony said Tuesday that annual net profit dipped 3.5 percent on-year but beat its forecast as takings in games and music offset losses in the financial and chip sectors.

The entertainment and electronics behemoth has been in the spotlight after reports said it was working with Apollo Global Management on a potential joint bid for US film and television giant Paramount Global.

The Japanese company has declined to comment on the reports, which cited anonymous sources saying Sony and Apollo have made a $26 billion proposal to buy Paramount, the owner of CBS, Comedy Central and MTV.

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