Sony sees first profit in over a year

Electronics giant Sony has posted operating profits of $1.6 billion for its third fiscal quarter – its first profit in five quarters.

The results are a big improvement on the $197 million loss seen in the same period the year before.

Increased sales for Sony’s Blu-ray operation paved the way for a 22 per cent increase in profits at the B2B & Disc Manufacturing Division, totalling $110 million.

There were also strong results at the Networked Products and Services Division (which houses Sony’s PlayStation operations), with the period brining an operating profit of $213 million – up $277 million year-on-year.

Sony has now halved its forecasted full-year loss from $415 million to $207 million.