Song revises up operating profit outlook to 170m dollars

Sony Corp on Wednesday said it expects an operating profit of 20 billion yen (170 million dollars) for the current financial year, reversing an operating loss of 40 billion yen projected three month ago.

The upgrade was attributed to an increase in the PlayStation 4 sales and significant demand in image sensors for mobile phones, the Japanese consumer electronics maker said.

Sony also narrowed its annual net loss outlook for the year through March, by 26 per cent to 170 billion yen while sales were predicted at 8 trillion yen, compared with 7.8 trillion yen estimated in October.

Sony has postponed reporting its financial results for the quarter ending in December due to a cyberattack. The announcement is expected to be made by the end of March.

Sony said it expects operating profit in the quarter to double from a year earlier to 178.3 billion yen, while predicting that net profit would more than triple to 89 billion yen in the quarter.

Sales were expected to grow 6.1 per cent to 2.56 trillion yen, the company said.

-SAPA