Sony first-quarter operating profit drops 1.1%, but beats analyst estimates
Reuters
Published Aug 04, 2020 02:17
TOKYO (Reuters) - Japan's Sony Corp (T:6758) on Tuesday reported a 1.1% drop in first-quarter operating profit, bracing for the lowest annual profit in four years as the coronavirus outbreak continues to dampen various business segments.
The electronics and entertainment firm posted April-June profit of 228.4 billion yen ($2.15 billion), versus 230.9 billion yen a year prior.
That compared with the 143.21 billion yen average of 10 analyst estimates compiled by Refinitiv.
The company also forecast operating profit to fall 26.7% to 620 billion yen in the year through March 2021, its lowest in four years.
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Written By: Reuters
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