L&T looks overseas to offset weak home market; Q4 net profit falls
India's largest engineering and construction group, will look overseas to offset a weak economy and project bottlenecks at home that led to a bigger-than-expected profit drop. Article | Full Coverage
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Sony returns to black in Q3 on asset, product sales
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
A visitor walks past Sony's booth at the Camera and Photo Imaging Show 2013 in Yokohama, south of Tokyo January 31, 2013.
Credit: Reuters/Yuya Shino/Files
TOKYO |
TOKYO (Reuters) - Sony Corp (6758.T) posted a third-quarter operating profit after a loss a year ago, supported by lower costs and proceeds from asset sales that are helping it offset weak demand for its TVs and other devices.
In the three months to December 31, Sony posted a 46.4 billion yen operating profit, compared with a 91.7 billion yen loss a year ago. The result was below the average 72.1 billion yen profit estimated by six analysts surveyed by Thomson Reuters I/B/E/S.
Following a 67 billion yen loss in the previous business year, Sony stuck to its full year operating profit forecast of 130 billion yen, compared with a consensus estimate of 119 billion yen of 19 analysts.
Since the start of the year Sony's shares have gained nearly 60 percent, rebounding from 30-year lows, compared with a 9 percent rise in the benchmark Nikkei 225.
(Reporting by Tim Kelly; Editing by Richard Pullin)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters