Sony soars into profit for this quarter

By Justin Mann on July 27, 2006, 3:24 PM
Right as Sony prepares the PlayStation 3 for launch, they report a huge profit for this quarter. Citing their consumer electronics division, Sony saw a profit of $276 Million (219 Million Euros), no small sum. This is also all part of Sony's internal restructuring that began last year, in order to make the company more “efficient”. This has encouraged Sony to alter their predictions for the rest of the year:

As well as announcing its first quarter results, Sony also took the opportunity to update its forecasts for the full year - maintaining its profit target of 130 billion Yen (881 million Euro), but raising its revenue target marginally from 8.20 trillion Yen (55.6 billion Euro) to 8.23 trillion Yen (55.8 billion Euro).
Sony will definitely enjoy this profit, especially considering that the PlayStation 3, which is going to sell millions of units, will be sold at a loss.

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