Sony's Profit Dropped to 59 Percent

Sony Corp. reported operating profit decreased for about 59 percent, after a drop in production due to earthquake in Japan last March.

Revenue in April and June fell to 27.5 billion yen from 67 billion yen previously. This result is greater than the market forecast of 15.2 billion yen based on the average yield expected by five analysts.

The manufacturer of Bravia TVs and PlayStation game console ended the year with unchanged revenue of 200 billion yen. These results are different from the average estimate by 22 analysts, amounting to 224.5 billion yen.

Sony also lowered the annual target for television sales to 22 million units from a previous target of 27 million units. But Sony still set a target of selling 15 million units for the PlayStation 3 and 24 million units for digital cameras. For the remainder of this year, Sony hopes the exchange rate dollar / yen at 80 yen, and euro / yen at 115 yen to stabilize their product sales.