Sony Swings To FQ1 Loss

Sony

posted a profit in its fiscal first quarter. Sony swung to a quarterly net profit of Y3.48 billion ($35.38 million), versus a year-ago loss of Y24.64 billion. Its sales increased 13% to Y1.712 trillion, while operating profit jumped to Y36.35 billion. However, analysts were expecting a net profit of Y4 billion on revenue of Y1.637 trillion. For the full year to March, Sony lifted its sales forecast by 5% to Y7.9 trillion. Sony shares closed at $21.04 yesterday.