Sony Corp. Earnings Slip In Q2

Sony Corp. (SON.L) on Thursday reported net income of 213.106 billion Yen or 170.26 Yen per share in the second quarter, significantly lower than 458.597 billion Yen or 367.08 Yen per share in the same quarter a year ago on higher expenses.

An income tax benefit of 157.87 billion Yen recorded in the prior-year quarter also led to this year's lower earnings.

Income before income taxes was 283.099 billion in the quarter, lower than 303.728 billion last year.

Operating income increased to 318.459 billion Yen from 315.224 billion Yen a year ago.

Sales and financial services revenue for the quarter, however, increased to 2,369.365 billion Yen from 2,105.117 billion Yen last year.

Looking forward, the company has raised its full-year sales outlook to 9,900 billion Yen from 9,700 billion Yen.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home improvement company Lowe's and pet retailer Petco Health and Wellness Co. are set to launch a pilot store-in-store program whereby a total home solution will be offered to customers by bringing home improvement as well as pet care products, services and expertise together under the same roof. Chevron Corporation (CVX) reported fourth quarter profit of $5.1 billion or $2.63 per share, compared to a loss of $665 million or $0.33 per share, previous year. The company's U.S. upstream operations earned $2.97 billion, compared to $101 million, a year ago. The company said the improvement was primarily... While reporting financial results for the fourth quarter on Friday, Colgate-Palmolive Co. (CL) initiated its earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now expects earnings per share to grow in double-digit percentage and adjusted earnings per share growth...
Follow RTT