Company News

Sony to post Y100 bln op profit in Oct-Dec -Nikkei

TOKYO, Jan 28 (Reuters) - Sony Corp 6758.T will likely post an operating profit of about 100 billion yen ($1.1 billion) for the October-December quarter, helped by a recovery in its video game and LCD TV operations, the Nikkei newspaper said.

While Sony has been widely expected to post its first profit in five quarters, the Nikkei’s estimate is higher than the market consensus for an operating profit of 74.2 billion yen in a poll of 7 analysts by Thomson Reuters I/B/E/S. [ID:nTOE60O04R]

Sony has seen sales of its PlayStation 3 game console grow sharply after a price cut earlier last year. The video game business will post its first operating profit in four quarters in the October-December period, the Nikkei said.

The electronics giant has also enjoyed strong sales of LCD TVs and payroll cuts and consolidation of facilities have helped that business return to the break-even level on an operating basis, the Nikkei said. (Reporting by Nathan Layne)