Sony Q1 Net Profit Rises, Operating Income Down; Sees Weak Earnings In FY

(RTTNews) - Japanese consumer electronics maker Sony Corp. (SON.L, SNE) reported Tuesday that its first-quarter net income attributable to stockholders grew to 233.25 billion yen from 152.12 billion yen in the previous year. Earnings per share increased to 186.94 yen from 119.22 yen last year.

Operating income, meanwhile, dropped to 228.40 billion yen from 230.93 billion yen in the prior year.

First-quarter sales and operating revenue grew to 1.97 trillion yen from 1.93 trillion yen a year ago. Net sales declined to 1.50 trillion yen from 1.56 trillion yen last year.

Looking ahead to the fiscal year ending March 31, 2021, Sony forecasts net income attributable to stockholders of 510 billion yen, operating income of 620 billion yen, and sales and operating revenue of 8.30 trillion yen.

The attributable net income is expected to be down 12.4 percent from last year, and operating income down 26.7 percent, while sales are expected to edge up 0.5 percent.

Further, the company announced interim dividend forecast for the fiscal year of 25 yen per share, higher than last year's 20 yen per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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