Millennium Post

Sony confirms Q3 net profit, annual loss

Sony on Tuesday said its net profit for the three months to December more than tripled from a year earlier, but confirmed it was on course to incur an annual loss.

The improvement stems mainly from a weak yen, increased sales of smartphones, robust PlayStation console businesses and strong demand for image sensors for cameras, the firm said. This increase was partially offset by a significant decrease in sales in other operations, it said. It was "primarily related to Sony's exit from the PC business, and a decrease in sales in the Pictures segment, mainly due to lower Motion Pictures and Television Productions sales," it said. Sony posted a net profit of 90 billion yen ( 742 million) for the October-December term, the company said in a finalised earnings report.

Sony published provisional estimates in February as final numbers were delayed after a cyberattack at its Hollywood film unit - linked to North Korean satire "The Interview" - compromised "a large amount of data".
PTI

PTI

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