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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.

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