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Sony’s profit dip, sticks to forecast for year

Posted at 1:32 AM, Jul 30, 2019
and last updated 2019-07-30 04:32:20-04

TOKYO (AP) — Sony Corp. has reported a 33% drop in its fiscal first quarter profit as sales dipped in its electronics operations, including TV sets and camcorders.

The Japanese electronics and entertainment company reported Tuesday that its April-June profit totaled 152 billion yen ($1.4 billion), down from 226 billion yen in the same period of the previous year.

Quarterly sales inched down 1% to 1.93 trillion yen ($17.7 billion).

Tokyo-based Sony, which makes Bravia digital TVs and the Aibo robotic dog, kept its profit forecast for the fiscal year through March 2020 unchanged at 500 billion yen ($4.6 billion).