Sony Expects Highest Full-Year Operating Profit Since 2008 (Report)

Sony CEO Kaz Hirai

The consumer electronics and entertainment conglomerate has raised its financial forecast for the current fiscal year, which began this month, according to a weekend report.

Sony Corp. has raised its operating profit estimate for the current fiscal year to $2.52 billion (300 billion yen), according to a report in Japanese business daily Nikkei.

The Nikkei report, without naming its sources, said the new operating profit forecast for the fiscal year to March 31, 2016 would be four times the previous estimate of $568 million (68 billion yen). It cited higher revenue from display sensors used in mobile phones, and the PlayStation, as growth drivers.

The figure would be the company's highest operating earnings since 2008, according to Nikkei.

Sony, led by CEO Kaz Hirai, is scheduled to report its full-year results on Thursday. The company had just on Wednesday raised its earnings estimates for the just-ended fiscal year.

April 26, 10 p.m. An earlier version of this article cited a Reuters report, which incorrectly stated that the upgrade referred to the just-ended fiscal year.
 

comments powered by Disqus