Sony Sees 25 Rise in Profit, but Cuts Outlook

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Earnings Analysis:

Sony Sees 25% Rise in Profit, but Cuts Outlook

Author: 123jump.com Staff
123jump.com
Last Update: 11:00 AM EST February 01 2008

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Net income rose to 200.2 billion yen in the third quarter vs. 159.9 billion yen a year ago. Sales and operating revenue added 9.6% to 2.86 trillion yen thanks to the strong sales of Bravia L.C.D. televisions. Sony posted a 31.2% jump in sales of PlayStation 3 in the quarter but cut its 2008 sales outlook by 14%, to 9.5 million units. Sony also slashed its operating income outlook for 2008, saying it expects to earn 410 billion yen compared with the October guidance of 450 billion yen.

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