Japan's Sony raises forecast on solid results in its game business

Tokyo, Feb 13 (AP) Japanese electronics and entertainment company Sony reported a 3 per cent gain in October-December profit Thursday, and raised its full-year forecast.

Quarterly profit totaled 373.7 billion Yen (USD 2.4 billion), up from 364 billion Yen.

Quarterly sales edged up 18 per cent to 4.4 trillion Yen (USD 29 billion), boosted by solid results in its financial services, games and music operations.

The Tokyo-based maker of the PlayStation video game machine reported a 21 per cent gain in April-December profit at 943.9 billion yen (USD 6 billion), up from 781.6 billion.

Nine-month sales edged up 8 per cent to 10.3 trillion Yen (USD 67 billion).

Sony Corp revised its full year profit projection upward to 1.08 trillion Yen (USD 7 billion) from the 980 billion Yen (USD 6.3 billion) annual profit forecast it gave in November.

The latest projection is also an 11 per cent improvement over the profit it recorded the previous fiscal year.

The revision was caused by a favourable currency exchange rate, as well as growing sales in network services, according to Sony.

Its PlayStation 5 game machine is now in its fifth year since going on sale. Details on a possible successor have not been announced. (AP) NPK NPK

Source: PTI