Sony sets record with three-fold jump in Q1 operating profit

The firm maintained its profit forecast of 500 billion yen for the year ending March.
The firm maintained its profit forecast of 500 billion yen for the year ending March. PHOTO: AFP

TOKYO (REUTERS) - Japan's Sony Corp on Tuesday (Aug 1) reported its highest-ever first-quarter operating profit, taking the electronics giant one step toward its highest annual profit in two decades on the back of solid sales of image sensors.

Profit increased 2.8 times to 157.61 billion yen (S$1.94 billion) in April-June, exceeding the previous first-quarter record of 121.3 billion yen set in 2007.

The result compared with a Thomson Reuters Starmine SmartEstimate of 129.14 billion yen drawn from 10 analyst views.

The firm maintained its profit forecast of 500 billion yen for the year ending March.

While that is below the market's average forecast of 562.19 billion yen, it would still be the highest since the company made 526 billion yen in the year ended March 1998, when it enjoyed strong sales of its first PlayStation games console and other electronics. It also benefited from box-office hit "Men in Black".