Sony raises annual outlook after third-quarter profit beats estimates
FILE PHOTO: A view of the Sony booth during the 2020 CES in Las Vegas, Nevada, U.S. January 8, 2020. REUTERS/Steve Marcus/File Photo
TOKYO - Sony Corp on Tuesday reported a 20% decline in third-quarterly profit due to the absence of an accounting gain that boosted its year-earlier result, though strong sales of image sensors helped it beat estimates and raise its annual outlook. Operating profit came in at 300.1 billion yen for October-December, from 376.99 billion yen in the same period a year earlier. The result compared with the 271.07 billion yen average of nine analyst estimates compiled by Refinitiv.
Excluding the impact of one-off items including last year’s gain linked to the acquisition of music publisher EMI, profit rose 6%. The Japanese entertainment and electronics firm raised its annual profit forecast to 880 billion yen from 840 billion yen. That compared with the 878.47 billion yen consensus of 22 analysts.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kansas City Chiefs win Super Bowl LIV, 31-20, over the San Francisco 49ersThe Kansas City Chiefs won their first Super Bowl in 50 years with their come-from-behind victory over the 49ers. This is Kansas City's second Super Bowl win in history.
Read more »
Mahomes catches fire late, leads Chiefs to 31-20 comeback Super Bowl winQuarterback Patrick Mahomes overcame costly interceptions to lead three fourth-quarter touchdown drives as Kansas City beat the 49ers, 24-20, for its second NFL title.
Read more »
'Heavily armed' militants kill nearly 20 civilians in Burkina FasoGunmen on motorbikes 'literally executed' local inhabitants in northern village of Bani in Seno province, security sources say, as people flee attack site.
Read more »
J. Cole's 20 Best Songs: Critic's PicksHere’s a list of the top 20 best J. Cole songs to date.
Read more »
Antonio Banderas Brought Dakota Johnson as His Date to the Oscars 20 Years AgoName a sweeter stepdad and stepdaughter duo than Dakota Johnson and Antonio Banderas. We'll wait.
Read more »
20 dead in stampede at Tanzania church serviceTanzanian officials say 20 people have died in a stampede during a church meeting in the northern city of Moshi
Read more »