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Sony’s Q4 operating profit more than doubles, helped by gaming -Breaking

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© Reuters. An electronic store at Narita International Airport in Narita (Japan), November 1, 2016 shows the logo for Sony Corp. REUTERS/Toru Hanai/Files

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TOKYO Reuters – Japan Sony (NYSE: ) Group Corp reported Tuesday its fourth-quarter operating profits more than doubled at 138.6 trillion yen ($1.06 million). This was due to strong results in its network services and gaming business.

Although the 3 months ended March 31 saw a profit of 66.5 trillion yen, it was still lower than the average profit estimate for 147 billion from 10 Refinitiv analysts.

Sony expects operating profit to drop to 1.16 trillionyen, from 1.2 billion yen in the current year. Based on 23 analyst forecasts, this prediction falls below the average 1.21 trillionyen profit. Refinitiv data indicates.

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