Sony hikes '09/10 ops estimate to profit from loss

Sony Corp said it likely swung to an annual profit in the last financial year, rather than its previous forecast of an operating loss, helped by cost cuts and milder price falls than expected, beating market expectations.

Sony Corp said it likely swung to an annual profit in the last financial year, rather than its previous forecast of an operating loss, helped by cost cuts and milder price falls than expected, beating market expectations.

The maker of Bravia flat TVs and Cyber-shot digital cameras raised its operating estimate to a profit of 32 billion yen from a 30 billion yen loss for the year ended March 31. The latest outlook exceeds the consensus of a 3.6 billion yen profit in a poll of 21 analysts by Thomson Reuters I/B/E/S.

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Sony is set to unveil its full-year results on Thursday.