Sony rebounds to profit in April-June quarter

Sony rebounds to profit in April-June quarter

Tokyo: Sony returned to profit in the April-June quarter and raised its full year earnings forecast amid higher sales of its PlayStation gaming consoles, personal computers and televisions.

The Tokyo-based electronics and entertainment giant is reporting a profit of 25.7 billion yen or $294 million at current exchange rates for the period, a sharp turnaround from a 37.1 billion yen loss a year earlier.

It booked a 3.8% increase in revenue to 1.66 trillion yen. Operating profit came to 67 billion yen compared with an operating loss of 25.7 billion yen in the same period last year.

Sony upgraded its forecast for the full year through March 2011. It now expects a net profit of 60 billion yen on revenue of 7.6 trillion yen.