Sony Tops Profit Estimates as Chips, Music Lead Growth
- Company increases revenue forecast, keeps profit outlook
- Games profit dips from prior year, when Uncharted 4 released
First quarter profit for Sony topped estimates with chips, music and PlayStation 4 among the growth drivers. But Sony declined to raise its full-year profit forecast. Bloomberg's Yuji Nakamura reports on 'Bloomberg Daybreak: Asia.' (Source: Bloomberg)
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Sony Corp.’s turnaround is right on track.
The Japanese electronics and entertainment company posted quarterly profit that topped analyst estimates, thanks to demand for smartphone camera chips, a healthy music business and brisk sales of PlayStation 4 consoles and games. Operating profit was 157.6 billion yen ($1.4 billion) in the fiscal first quarter that ended in June, beating analysts’ average projection for 133.3 billion yen. Sales rose 15 percent to 1.86 trillion yen, topping predictions.