Sony warns of China virus impact on raised forecast for year

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Japanese electronics and entertainment company Sony Corp. warned Tuesday that forecasts and results were at risk because of the new virus in China, as it reported a drop in fiscal third quarter on stumbling video game, networking and film businesses.

Tokyo-based Sony, which makes PlayStation video-game consoles, Bravia TVs and Spider-Man films, said the impact of the virus was unclear, but production and sales of its image sensor division were at risk. The company promised to release any new forecasts as soon as possible.

Sony reported an October- December profit of 229.5 billion yen , down from 429 billion yen a year earlier. Quarterly sales rose 3% to 2.46 trillion yen . Both quarterly profit and sales were better than the FactSet forecasts. Sony's image sensors, used in a wide variety of smartphones and digital cameras, continued to be in demand, while sales of its electronics products including smartphones and TVs declined, the company said.Revenue from movies fell on-year partly because of the strong performance the previous year of "Venom," a film about the Marvel comics superhero, according to Sony.

 

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