Stock Groups

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

[ad_1]

2/2
© Reuters. An electronic store at Narita International Airport in Narita (Japan), November 1, 2016 shows the logo for Sony Corp. REUTERS/Toru Hanai/Files

2/2

TOKYO (Reuters), -Japan Sony (NYSE:) Group Corp announced Tuesday that its fourth quarter operating profit increased to 138.6 Billion Yen ($1.06 Billion), thanks in large part to strong performances at its network and gaming businesses.

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

Sony predicts that the operating profit will fall to 1.16 trillion from 1.2 trillion by year’s end. This prediction, based upon forecasts by 23 analysts and Refinitiv data, is less than the 1.21 trillion yen average profit.

[ad_2]