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| Thursday, 25 July, 2002, 07:20 GMT 08:20 UK Spider-Man lifts Sony profits ![]() Games console sales lifted profits... Strong sales of games consoles and movies and the Hollywood hit Spider-Man have fuelled profits at the world's largest electronics and entertainment company, Sony.
The sharp rise in profits for the April to June quarter enabled the company to reiterate its full-year profit forecast, despite the recent rise in the strength of the Japanese currency, the yen. Sony's sales rose 5.4% during the three months. "Despite uncertainty over the global economic situation, we achieved record sales for any first quarter," Sony said. Concerns about the future Cost reductions and 13,700 job cuts during the 12 months to March this year have helped improve Sony's bottom line. But the rising yen continues to worry analysts after it recently reached its highest level in 17 months. This is because Sony earns two thirds of its income outside Japan. On Tuesday this week, Sony's share price fell to its lowest level in a year. Sony closed up 0.19% ahead of the results announcement. | See also: 01 Jul 02 | Entertainment 26 Jun 02 | Entertainment 26 Jun 02 | Science/Nature 21 May 02 | Entertainment 15 May 02 | Entertainment 10 May 02 | Entertainment 02 May 02 | Entertainment 23 Apr 02 | Entertainment 04 Apr 02 | Entertainment 16 May 02 | Science/Nature Internet links: The BBC is not responsible for the content of external internet sites Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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