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Sony Expects Profit For Fiscal Q1

Reversing an earlier forecasted loss for fiscal Q1, Sony today said today that it expects to post a group operating profit for the period.
Over the weekend, the Nihon Keizai Shimbun newspaper said that Sony would post a group operating loss of five billion yen for the quarter, due to a slow market for electronics products around the world. The film "Spider-Man" and PS2 game sales are expected to be the driving revenue forces for the company in fiscal Q1, which ended yesterday. In a related announcement, Sony Computer Entertainment said that shipments of the PS2 in Japan will hit the 10 million mark by the end of July, five months earlier than the PSX hit that level. Sony is scheduled to announce Q1 results on July 25.

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