Sony returns to black for first time in three years

Sony posted a net profit of 147.8 billion yen (1.36 billion dollars) for the financial year ended March 31, the first positive result in three years, compared to a loss of 126 billion yen the year before, the company said Thursday.

The Japanese consumer electronics giant said its operating profit for the year more than quadrupled to 294.2 billion yen while sales edged down 1.3 per cent to 8.1 trillion yen.

In the January-to-March quarter, Sony booked a net loss of 88.3 billion yen, compared with a net loss of 106.8 billion yen in the same period last year.

The company also posted an operating loss of 92.9 billion yen for the three-month period, compared with an operating loss of 97.8 billion yen a year before, while sales fell 5.9 per cent to 1.82 trillion yen.

Sony has postponed the release of its earnings outlook for the current financial year because the company is still assessing the impact of recent powerful earthquakes in southern Japan on its business, it said.

Last update: Thu, 28/04/2016 - 12:40

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