Sony Corp. on Thursday posted a much better-than-forecast profit in the October-December quarter and cut its full-year loss outlook, citing stronger sales and benefits of restructuring steps.
Sony said net profit rose to 79.2 billion yen ($861 million), up from a profit of 10.4 billion yen in the year-ago period, and more than twice a mean profit estimate of 33.73 billion yen of analysts polled by Thomson Reuters.
The Japanese electronics maker said its October-December revenue rose 3.9% to 2.24 trillion yen. Its operating profit was 146.1 billion yen, up from a 17.96 billion yen loss in the year-earlier period.
For the full fiscal year through March, Sony halved its operating loss forecast to 30 billion yen from 60 billion yen. It posted a 227.78 billion yen loss last fiscal year.