Sony revises its 2012 earnings forecast, doubles expected net profits

Just like last year, we're reporting on a revision Sony's making to its expectations for last year's profits, but this time around there's some positive news. According to Sony, selling some of the buildings it owns and a weakening yen have doubled its expected net profit from 20 billion yen announced in February to 40 billion yen ($403 million). The complete results will be announced May 9th, and despite Sony managing its first profit since 2008 investors are hoping to hear how it plans to keep the streak going with business gains next year. The PlayStation 4 is expected to headline CEO Kaz Hirai's plans for future products, we should hear just how optimistic Sony is about those prospects in a couple of weeks.

Filed under: Cellphones, Home Entertainment, Sony

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Via: Bloomberg

Source: Sony (PDF)