Sony doing better than expected; revises fiscal forecast

25 April, 2013

After what was by all accounts a terrible fiscal year, ended in March 31, 2012, where Sony posted a net loss of 456.7 billion yen (about $4.6 billion), things are finally starting to look up for the Japanese tech giant.

This year, thanks to great sales, Sony has raised its sales prediction figure by 3% compared to its initial forecast, its operating income by 76.9%, and its net income by 100%. The Japanese are now hoping to get 40 billion yen ($402 million) profit.

The company attributes the change of fortunes to the sales of several assets over the last fiscal year, as well as an increase in profits from foreign sales thanks to a depreciating yen.

Expect Sony's full fiscal year earnings announcement on May 9.