Sony posts 10pc profit rise on image sensor boost

TOKYO, Aug 07 (Reuters): Sony on Wednesday reported a 10 per cent rise in operating profit in the April-June quarter, beating analyst estimates, boosted by its industry-leading image sensor business.

Profit at the Japanese tech and entertainment conglomerate was 279 billion yen ($1.90 billion), compared with an average estimate of 275 billion yen from seven analysts polled by LSEG.

The impact from foreign exchange and higher sales helped profit at the image sensor business, a major supplier for smartphone makers, roughly triple to 36.6 billion yen. A sprawling group encompassing music, movies, games and chips, Sony hiked its full-year profit forecast by 3 per cent aided by foreign exchange rates.

Financial markets have been whipsawed in recent days following an interest rate hike by the Bank of Japan and weak labour data from the US.