Sony Q3 earnings raises profit and guidance

Earnings


Tomohiro Ohsumi | Getty Images

Sony Corp. CEO Kazuo Hirai speaks during a press conference on June 29, 2016 in Tokyo, Japan.

Japan’s Sony on Friday reported a nearly four-fold jump in third-quarter operating profit on growing demand for its image sensors, and raised its full-year earnings outlook.

The electronics firm posted an operating profit of 350.8 billion yen ($3.20 billion) for the October-December quarter, up from 92.4 billion yen a year ago. That was Sony’s highest third-quarter profit ever and far above a consensus estimate of 240.8 billion yen from 10 analysts polled by Thomson Reuters I/B/E/S.

Sony raised its profit forecast for the year ending March to 720 billion yen from 630 billion yen, its best ever in its 72-year-old history.

That compared with a consensus estimate of 680.93 billion yen from 23 analysts polled by Thomson Reuters I/B/E/S.

Earlier in the day, Sony said that CEO Kazuo Hirai would be replaced by CFO Kenichiro Yoshida, effective April 1.



Source link

Products You May Like

Articles You May Like

Hewlett Packard Enterprise earnings Q1 2018
RBS reports an annual profit for the first time in a decade
What tax pros say you should do before heading their way
Pantera crypto blockchain fund lands Deutsche veteran William Healy
Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year

Leave a Reply

Your email address will not be published. Required fields are marked *