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Sony logs 42 pct plunge in Q1 operating profit on quake damage
July 29, 2016 / 6:16 AM / a year ago

Sony logs 42 pct plunge in Q1 operating profit on quake damage

TOKYO, July 29 (Reuters) - Japan’s Sony Corp on Friday reported a 42 percent decline in first-quarter operating profit due to earthquake damage to one of its key image sensor factories.

Profit reached 56.2 billion yen ($542.7 million) for April-June, versus 96.9 billion yen in the same period a year earlier.

The result compared with a Thomson Reuters Starmine SmartEstimate of 7 billion yen drawn from 10 analysts.

The firm maintained its full-year profit forecast of 300 billion yen, a 2.0 percent rise over the previous year.

It also said it now estimates the April quake’s impact on overall business to be 80 billion yen, smaller than its initial forecast of 115 billion yen. (Reporting by Makiko Yamazaki; Editing by Christopher Cushing)

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