Sony Corp. raised its profit forecast for the second time since February as Chief Executive Officer Kazuo Hirai's revamp stokes earnings from games and financial services.
Operating income more than doubled to ¥68 billion ($569 million) in the year ended March, the company reported Wednesday on a preliminary basis. That compares with the ¥47.2 billion average of analyst estimates compiled by Bloomberg.
Hirai's emphasis on profitability instead of volume growth has combined with Chief Financial Officer Kenichiro Yoshida's focus on accountability to restore investor confidence in the company. Sony expects earnings in the 2018 fiscal year to reach a two-decade high on growth from game consoles, entertainment and sensors for smartphone cameras.
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