Sony Q1 operating profit drops 1.1%, but beats analyst estimates

Credit: REUTERS/Steve Marcus

Japan's Sony Corp 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.

TOKYO, Aug 4 (Reuters) - Japan's Sony Corp 6758.T 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.

($1 = 106.0600 yen)

(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)

((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))

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