Sony's first quarter operating profit fell just 1.1%, beating analyst estimates.
Sony on Tuesday reported a 1.1% decline in first-quarter operating profit, much milder than market estimates.
The electronics and entertainment firm posted April-June profit of 228.4 billion yen , versus 230.9 billion yen a year prior.on Tuesday reported a 1.1% decline in first-quarter operating profit, much milder than market estimates as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games.
The result compared with the 143.21 billion yen average of 10 analyst estimates compiled by Refinitiv. The impact of the novel coronavirus on Sony has been limited compared with Japanese electronics peers such asTo accelerate the portfolio shift to such revenue streams, Sony recently invested in Chinese video siteSony forecast its gaming business to post a profit of 240 billion yen for this financial year, versus 238 billion yen a year earlier, driven by a sharp rise in software sales.
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