Sony Q1 Profit, Sales Rise; Lifts FY21 View, Backs Sales Forecast; Stock Down

Japan's Sony Corp. (SON.L,SNE) reported Wednesday that its first-quarter net income attributable to shareholders increased to 211.83 billion Japanese yen from 193.58 billion yen in the previous year. Earnings per share were 169.22 yen, up from 155.27 yen last year.

Operating income grew to 280.07 billion yen from 221.73 billion yen a year ago.

Total sales and financial services revenue increased to 2.26 trillion yen from 1.96 trillion yen last year. Sales were 1.84 trillion yen, up from 1.52 trillion yen a year ago.

Looking ahead for the fiscal year 2021, ending March 31, 2022, Sony now projects attributable net income of 700 billion yen, and operating income of 980 billion yen. The company previously expected attributable net income of 660 billion yen and operating income of 930 billion yen.

Further, the company continues to expect sales of 9.7 trillion yen for the year.

In fiscal 2020, net income attributable to shareholders was 1.03 trillion yen, operating income was 955.3 billion yen and sales were 9 trillion yen.

In Japan, Sony shares were trading at 11,075 yen, down 3.23 percent.

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