Sony will post their first annual profit in over five years

Sony looking to post their first profit since 2008, thanks the sale of various assets.

@anthony256
Published Sun, Apr 28 2013 11:36 PM CDT   |   Updated Tue, Nov 3 2020 12:23 PM CST

After five rough years with finances, Sony is poised to post their first annual profit since 2008 thanks to the sale of various assets. The Japanese giant sold their New York City HQ earlier this year, for $1.1 billion, which should give them net cash proceeds of around $770 million to help pay off various debt.

Sony will post their first annual profit in over five years | TweakTown.com

Another contribution to the profit is the weaker yen, something that helped increase the value of their overseas earnings, something that Sony expects to report a net profit of 40 billion yen for the fiscal year which ended on March 31, up from their previous estimate of 20 billion yen. Sony are scheduled to post their three-month earnings on May 9.

NEWS SOURCE:bgr.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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