Sony CEO Gives Cautious Outlook as Loeb Seeks an Opening
- Profit forecast dented by costs of developing a PS4 successor
- Big cutbacks in the mobile division boost its profit outlook
This article is for subscribers only.
Sony Corp. said its operating profit will likely fall this year and pulled its financial forecasts for most divisions because of substantial uncertainty in their operations.
Operating profit will be 810 billion yen ($7.3 billion) in the year ending March 2020, down from last year’s 894 billion yen and below the 843 billion yen average of analyst estimates compiled by Bloomberg. For the three months ended in March, operating income came to 82.7 billion yen, surpassing the 69.1 billion yen average projection.