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Sony upgrades annual profit outlook on strong Q1 performance
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04/08/2021 - 08:48 Sony now predicts a net profit of $6.4 billion for the fiscal year to March 2022 Philip FONG AFP/File 1 min
Tokyo (AFP)
Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese entertainment and consumer electronics giant now predicts a net profit of 700 billion yen ($6.4 billion) for the fiscal year to March 2022, up from its earlier estimate of 660 billion yen.
The conglomerate said solid earnings in its music and electronic products businesses offset a decline in operating profit in the gaming sector in the first quarter.
Sony Upgrades Profit Outlook On Strong Q1 Performance By Shingo ITO
08/04/21 AT 3:57 AM
Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese conglomerate said solid earnings in its music and consumer electronics businesses offset a first-quarter operating profit decline in the gaming sector.
A box-office triumph for the anime epic Demon Slayer , distributed by Sony s animation unit Aniplex, also boosted its better-than-expected quarterly results.
Sony Group now predicts a net profit of 700 billion yen ($6.4 billion) for the fiscal year to March 2022, up from its earlier estimate of 660 billion yen.
Wednesday, 04 Aug 2021 02:58 PM MYT
The conglomerate said solid earnings in its music and electronic products businesses offset a decline in operating profit in the gaming sector in the first quarter. AFP pic
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TOKYO, Aug 4 Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese entertainment and consumer electronics giant now predicts a net profit of 700 billion yen (RM27 billion) for the fiscal year to March 2022, up from its earlier estimate of 660 billion yen.
Sony upgrades its profit forecast on strong first quarter
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