August 4, 2020

Sony net profit jumps 53.3% in Q1 but virus clouds annual outlook

Tokyo (AFP) – Sony said Tuesday its net profit surged 53.3 percent in the first quarter, but warned annual profits were likely to see double-digit falls as the coronavirus pandemic continues to cloud the forecast.The PlayStation giant said net profit for the April-June quarter reached 233.25 billion yen ($2.2 billion), with “significant increases” in its game and network services and financial services segments.The surge was also helped by a strong performance in equities, which pushed up the firm’s pre-tax income.Operating profit, however, slipped 1.1 percent to 228.39 billion yen on sales of…


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