Sony to return to operating profit in April-June -Nikkei

TOKYO, July 26 (BestGrowthStock) – Sony Corp (6758.T: )(SNE.N: ) will
likely return to profitability in the April-June quarter,
beating market expectations for an operating loss, on solid
sales and cost cuts, the Nikkei business daily reported on
Monday.

Sony is expected to post a quarterly operating profit of
10 billion to 30 billion yen ($114 million-$343 million),
bouncing back from an operating loss of 25.7 billion yen in
the same quarter last year, the Nikkei said.

That would beat the consensus of a loss of 18.8 billion
yen from the average estiamte of four analysts surveyed by
Thomson Reuters I/B/E/S.

Japan’s huge consumer electronics company has enjoyed
strong sales of major products in China and other markets,
including new digital camera models that use interchangeable
lenses, video cameras and personal computers, the Nikkei
said.

Liquid crystal display televisions also sold well in both
Japan and overseas markets with smaller-than-expected price
falls, while the game and mobile phone operations returned to
profitability on the back of cost cuts, the newspaper said.

Sony slashed more than 330 billion yen in costs in the
previous business year through labor cuts and factory
consolidation, helping the company absorb the impact of yen
strength versus the euro, the Nikkei said.

Sony is scheduled to announce its April-to-June earnings
after the market close on July 29.

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(Reporting by Nathan Layne; Editing by Jan Paschal)

Sony to return to operating profit in April-June -Nikkei