Sony Corp. returned to the black in the latest quarter and raised its earnings forecast thanks to brisk sales of its PlayStation 3 gaming consoles and personal computers.
The Tokyo-based electronics and entertainment company Friday reported a profit of ¥31.1 billion for the July-September quarter. It was a big rebound from the ¥26.3 billion loss it posted a year earlier.
Revenue climbed 4.3 percent to ¥1.73 trillion. Operating profit came to ¥68.7 billion, compared with an operating loss of ¥32.6 billion last year.
The solid results reflect the success of cost cuts and restructuring carried out under Chief Executive Howard Stringer. Since taking over in 2005, the Welsh-born CEO has been trying to unite the company's sprawling businesses and improve efficiency.
Its Networked Products & Services division, which includes gaming and PCs, did particularly well, Sony said. It sold 3.5 million PS3 consoles, up 9 percent from the fiscal second quarter last year. PC unit sales surged more than 50 percent to 2.3 million.
Sony raised its earnings forecast for the full fiscal year through March 31. It now expects net profit of ¥70 billion, 17 percent more than its previous forecast of ¥60 billion.
It lowered its sales outlook slightly to ¥7.4 trillion due to the impact of the strong yen.