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Sony returns to black in Q3 on asset, product sales
February 7, 2013 / 6:42 AM / 5 years ago

Sony returns to black in Q3 on asset, product sales

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.

A visitor walks past Sony's booth at the Camera and Photo Imaging Show 2013 in Yokohama, south of Tokyo January 31, 2013. REUTERS/Yuya Shino/Files

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

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