Sony preliminary profits beat expectations

Sony preliminary profits beat expectations
(Photo Archive)

Mubasher: Sony reported higher-than-expected preliminary profits in the fiscal year ended March 2017, according to a statement.

The Tokyo-based company posted preliminary operating profits of 285 billion yen ($2.6 billion) for the fiscal year through March 2017, up 19% from its previous forecast.

Net income would be about 73 billion yen, more than twice the previous forecast.

The profit rise is backed by cost-savings in its insurance unit and strong performance across most businesses.

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Source: Mubasher

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