Sony Q1 Profit Climbs; Backs FY18 Profit View, Lifts Sales Forecast

(RTTNews) - Japanese consumer electronics maker Sony Corp. (SON.L, SNE) reported Tuesday that its first-quarter net income attributable to stockholders climbed to 80.9 billion yen or $722 million from last year's 21.2 billion yen.

Earnings per share grew to 62.70 yen or $0.56 from 16.44 yen last year.

Operating income was 157.6 billion yen or $1.41 billion from 56.2 billion yen a year ago.

Sales and operating revenues climbed 15.2 percent to 1.86 trillion yen or $16.59 billion from prior year's 1.61 trillion yen. This significant increase was primarily due to increases in Financial Services and Semiconductors segment sales.

Further, for fiscal 2018, the company continues to expect attributable net income of 255 billion yen, and operating income of 500 billion yen.

However, sales and operating revenue are now expected to grow 9.2 percent from last year to 8.3 trillion yen, higher than previous forecast of a growth of 5.2 percent to 8 trillion yen.

For fiscal 2017, attributable net income was 73.3 billion yen or $654 million, operating income was 288.7 billion yen and sales and operating revenues were 7.60 trillion yen or $67.89 billion.