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Sony Gives Conservative Forecast After Profit Tops Estimates

  • Company had delayed issuing firm full-year forecast on virus
  • The Last of Us 2 was a record-breaking PS4 exclusive debut
The Japanese tech giant is preparing to launch the latest generation of its PlayStation gaming console this holiday season.

The Japanese tech giant is preparing to launch the latest generation of its PlayStation gaming console this holiday season.

Photographer: Kiyoshi Ota/Bloomberg
Updated on

Sony Corp. reported profit that outpaced estimates on strong demand for its games products, but offered a measured forecast for the fiscal year due to uncertainty from the coronavirus pandemic.

The Tokyo-based company said operating profit for the quarter ended in June was 228 billion yen ($2.15 billion), compared with average analyst estimates of 137 billion yen. The company forecast operating profit for the year ending in March of 620 billion yen, compared with projections for 654 billion yen. Sony also said it would buy back as much as 1.64% of its shares for 100 billion yen.