UPDATE 1-Sony Q2 profit beats consensus, lifts outlook

* Q2 profit Y68.65 bln vs market consensus Y35.1 bln

* Lifts full-year f’cast to Y200 bln vs consensus Y187.4 bln

* PC and game businesses improve; camera sales strong

* Shares close down 1.4 pct before results

TOKYO, Oct 29 (BestGrowthStock) – Sony Corp (6758.T: ) beat market
expectations with its quarterly profit on improved PC and game
businesses, and raised its full-year outlook despite tough price
competition and the negative impact of a stronger yen.

The result suggests Sony is making progress on cost-cutting
efforts put in place by Chief Executive Howard Stringer, who has
struggled to boost the company’s margins and come up with hit
products since taking the helm five years ago.

Sony said its earnings were also boosted by strong sales of
Vaio personal computers and PlayStation 3 game consoles,
partially supported by the recent launch of its Move motion-based
videogame controller.

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.

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
I/B/E/S.

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

In its TV business, Sony made its biggest push yet into
so-called connected televisions in partnership with Google
(GOOG.O: ), unveiling high-definition TVs that also allow users to
surf the Internet. [ID:nN11118162]

Prior to the announcement, Sony shares closed down 1.4
percent at 2,690 yen.

Sony shares have fallen about 26 percent since hitting a
two-year peak in March. The electrical machinery subindex
(.IELEC.T: ) is down about 13 percent over the same period.
(Reporting by Sachi Izumi; Editing by Anshuman Daga and Michael
Watson)

UPDATE 1-Sony Q2 profit beats consensus, lifts outlook