The Wall Street Journal: Sony posts surprise profit despite yen pressure

Sony Corp. reported a surprising net profit in the April-June quarter on strong PlayStation 4 sales, though it downgraded the outlook for its struggling image-sensor business because of the yen’s recent rapid strengthening.

During the quarter, the Japanese electronics and entertainment giant booked a net profit of ¥21.2 billion ($206 million), buoyed by its upbeat videogame arm. Consumer-electronics units, including smartphones and televisions, contributed smaller profits.

Analysts said they were confident Sony 6758, +2.82% on track to achieve its goal of an ¥80 billion net profit for this fiscal year ending in March, though they said fluctuating foreign-exchange rates could alter the forecast.

>>> Original Source <<<