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 (RM11.3 bil) 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. – Feb 4, 2020, Reuters
