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Sony Q3 profit surges

Staff Writer |
Sony reported that its third-quarter net income attributable to stockholders soared to 295.9 billion yen or $2.62 billion from last year's 19.6 billion yen.

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Earnings per share grew to 228.91 yen or $2.03 from 15.24 yen last year.

Operating income was 350.8 billion yen or $3.11 billion, significantly higher than 66.2 billion yen a year ago. The results mainly reflects the absence of impairment charge of goodwill recorded in the Pictures segment in the prior year.

Sales and operating revenues climbed 11.5 percent to 2.67 trillion yen or $23.65 billion from prior year's 2.40 trillion yen.

Looking ahead, for fiscal 2018, the company lifted its earnings forecast again, while maintained sales and operating revenue.

The company now expects attributable net income of 480 billion yen and operating income of 720 billion yen, compared to previous estimate of 380 billion yen and 630 billion yen, respectively.

Consolidated sales and operating revenues for the year are still expected to be 8.5 trillion yen.

In the previous year, attributable net income was 73.3 billion yen, operating income was 288.7 billion yen and sales and operating revenues were 7.60 trillion yen.

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