Sony revises earnings forecast

The company raises its fiscal year-end estimates for revenue and profits.

Richard Shim
Richard Shim Staff Writer, CNET News.com
Richard Shim
writes about gadgets big and small.
Electronics and media conglomerate Sony on Tuesday raised its fiscal year-end estimates for revenue and profits, citing foreign exchange gains, lower-than-expected tax expenses in the United States, and better-than-expected profits from its affiliate companies. The Tokyo-based company said revenue will come in around $69.2 billion for the year ended March 31. Profits will be around $811.7 million. The company previously estimated revenue of around $68.3 billion and profits of about $507.3 million. However, operating profits were revised down from about $922.3 million to $913.1 million. Those profits were affected by accelerated restructuring activities likely .

Sony will announce its earnings on April 27.