Sony upgrades full-year forecast, logs brisk quarterly profit

Sony upgrades full-year forecast, logs brisk quarterly profit

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Sony on Tuesday raised its full-year profit and sales forecasts after reporting a near-threefold increase in first-quarter profit, as its recovery continues under a new CEO. The electronics and entertainment giant now forecasts 500 billion yen ($4.5 billion) in net profit for the fiscal year to March 2019, up from its earlier estimate of 480 billion, in what would be a record profit for the second straight year. Annual sales are projected to rise slightly, with operating profit unchanged.