Sony operating profit rises fivefold, but misses estimates

Japan's Sony Corp., the world's second-largest consumer electronics maker, said Wednesday that operating profit grew more than fivefold in the year to March but the number was below the company's own forecasts due to financial market turmoil and a stronger yen.

Sony (nyse: SNE - news - people ) said the continuing recovery of its game business and an expected turnaround at its financial services operations should boost earnings this year.

The company posted operating profit of 374.5 billion yen ($3.6 billion), up from 71.8 billion yen a year earlier. Net profit surged 192.4 percent to 369.4 billion yen.

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- Posted: 2008-05-14 08:48:34

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