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Sony raises target after strong quarter

Sony results - Games and computers best performers
Sony results - Games and computers best performers

Japanese electronics giant Sony has reported a quarterly profit and raised its full-year forecast due to strong profits at its games and computer businesses.

The maker of Bravia televisions and Cyber-shot cameras reported a profit of 31 billion yen ($375m) in its second financial quarter, compared with a 26.3 billion yen loss a year ago.

Under chief executive and president Howard Stringer the Japanese company has been streamlining operations and cutting costs to trim back the sprawling group, which was battered by the global downturn.

The electronics giant has been forced to undergo major restructuring - slashing thousands of jobs, selling facilities and turning to suppliers for parts - after seeing losses pile up as the financial crisis hit demand.

Despite worries over the strength of the yen, the company also revised its full-year net profit forecast to 70 billion yen from 60 billion yen.

For the quarter, group operating profit stood at 68.7 billion yen from a loss of 32.6 billion a year ago thanks to a strong performance in Sony's game and PC business. For the six months ended September, Sony reported a 56.8 billion yen profit compared to a 63.4 loss in the same period a year earlier.