A Surprise Profit From Sony
An unexpected quarterly profit from Sony this morning. With strength finally returning to its television and videogame businesses, the company posted a $293.9 million net profit in its first quarter and raised its outlook for the full year. “Our results for the quarter show that our mainstay electronics business is once again becoming our engine of growth,” CFO Masaru Kato said during the company’s earnings call. “We want to keep up the momentum.” That should be quite a bit easier, now that Sony’s restructuring efforts are starting to pay off.