You will be redirected back to your article in seconds

Sony set to return to profit

Company expects $343 mil operating profit

Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand.

On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will announce its full results on Thursday.

It also says its net loss will be $440 million for the period, down from the $751 million loss previously predicted.

The sales projection has been dialed down slightly, however, from $78.3 billion to to $77.4 billion.

Sony has been selling TV factories and outsourcing production. Also, helping the bottom line are less-than-expected price drops for Sony TV sets.

Furthermore, Sony’s Networked Products and Services division, which includes its game and PC businesses, looks likely to beat its February forecast by $107 million due to drops in operating expenses and manufacturing costs.

More Film

  • Barry Keoghan Variety 10 Actors to

    Altitude Boards ‘Calm With Horses’ Starring Barry Keoghan, Cosmo Jarvis

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

  • The Mummy

    Tom Cruise Becomes First Actor to Receive Pioneer of the Year Award

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

  • Goran-Review

    Film Review: 'Goran'

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

  • Tiffany Haddish Lego Movie

    Tiffany Haddish Cracks up CinemaCon for 'Night School,' Tyler Perry Movie

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

  • Jim Gianopulos and Tom CruiseParamount Pictures

    Tom Cruise Wows CinemaCon With Story of 'Mission: Impossible -- Fallout' Stunt

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

  • JJ Abrams'Westworld' TV show premiere, Arrivals,

    'Overlord' Not 'Cloverfield' Movie, Says J.J. Abrams

    Sony is set to return to profit for the past fiscal year, thanks to a rigorous cost-cutting regime and an uptick in demand. On Monday Sony said it expects a $343 million operating profit for the fiscal year ended in March, compared with a February forecast of $322 million in the minus column. It will […]

More From Our Brands

Access exclusive content