Sony Profit Soars, Narrows Loss Forecast - TheStreet

TOKYO (

TheStreet

) --

Sony

(SNE) - Get Report

posted a dramatic rise in fiscal third-quarter profit and said it expects a narrower fiscal-year loss than previously forecasted.

Sony, the Japanese electronics maker, said profit rose to 79.2 billion yen ($870.6 million), up from 10.4 billion yen a year earlier.

Revenue in the period rose to 3.9% to 2.24 trillion yen as sales increased in its financial services and pictures segments.

Operating profit in the quarter was 146.1 billion yen; a year earlier Sony reported an operating loss of almost 18 billion yen.

Sony said it expects a fiscal-year loss of 70 billion yen, narrower than its earlier outlook of a loss of 95 billion yen.

-- Reported by Joseph Woelfel in New York.

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