Sony swings back to Q2 profit, raises outlook

TOKYO, Oct 29 (BestGrowthStock) – Japan’s Sony Corp (6758.T: ) swung
back to a second-quarter profit (Read more your timing to make a profit.) on improved PC and game
businesses, and raised its outlook despite tough price
competition and a strong yen.

Sony, which competes with Samsung Electronics (005930.KS: ) and
LG Electronics (066570.KS: ) in televisions, and Nintendo (7974.OS: )
and Microsoft (MSFT.O: ) in games, reported a 68.65 billion yen
($847 million) operating profit for July-September, helped also
by cost cuts.

The quarterly profit compares with a 32.6 billion yen loss
during the same period last year and an estimate for a 35.1
billion yen profit in a poll of five analysts by Thomson Reuters

For the full year to March, Sony raised its profit forecast
to 200 billlion yen from 180 billion yen. The forecast is above
an average estimate for a 187.4 billion yen profit from 23

Continued restructuring helped prop up Sony’s TV business,
while strong sales of digital SLR cameras, in which it vies with
Japan’s Canon Inc (7751.T: ), also supported Sony’s earnings.

In games, Sony launched its Move motion-based video game
controller last month to be used with its PlayStation 3 console,
and it has shipped 1 million units of the new product in its
first month on the market in the Americas region.
(Reporting by Sachi Izumi; Editing by Dhara Ranasinghe and
Edwina Gibbs)

Sony swings back to Q2 profit, raises outlook