Sony may return to the black
By Nathan Layne |
July 27, 2010, Tuesday
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Print Edition
Print Edition
SONY Corp 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 yesterday.
Sony is expected to post a quarterly operating profit of 10 billion to 30 billion yen (US$114 million to US$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 estimate of four analysts surveyed by Thomson Reuters.
A spokesman for Sony declined to comment on the report. Shares in the company were up 0.4 percent at 2,522 yen yesterday, lagging the benchmark Nikkei index which was up 1.3 percent.
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, according to the Nikkei.
Sony is expected to post a quarterly operating profit of 10 billion to 30 billion yen (US$114 million to US$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 estimate of four analysts surveyed by Thomson Reuters.
A spokesman for Sony declined to comment on the report. Shares in the company were up 0.4 percent at 2,522 yen yesterday, lagging the benchmark Nikkei index which was up 1.3 percent.
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, according to the Nikkei.
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