Sony reports rising sales, first quarter profit, boosts forecast

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Sony
Sony

Japan’s Sony Corp reported on Wednesday that its first quarter net income attributable to shareholders increased to 211.83 billion Japanese yen (1.9 billion dollars), from 193.58 billion yen in the previous year.

Earnings per share were 169.22 yen, up from 155.27 yen last year. Operating income grew to 280.07 billion yen, from 221.73 billion yen a year ago.

Total sales and financial services revenue increased to 2.26 trillion yen, from 1.96 trillion yen last year. Sales were 1.84 trillion yen, up from 1.52 trillion yen a year ago.

Looking ahead to fiscal year 2021, which ends on March 31, Sony now projects attributable net income of 700 billion yen, and operating income of 980 billion yen. The company previously expected attributable net income of 660 billion yen and operating income of 930 billion yen.

Further, the company continues to expect sales of 9.7 trillion yen for the year.

In fiscal 2020, net income attributable to shareholders was 1.03 trillion yen, operating income was 955.3 billion yen and sales were 9 trillion yen.
In Japan, Sony shares were trading at 11,075 yen, down 3.23 percent.

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