Electronics giant Sony appears to be pulling out of its death spiral.
The consumer electronics firm said on Wednesday preliminary results showed that operating profit had doubled to $1.52 billion in the October-December quarter, while sales rose 6 percent.
This was well ahead of what the cocaine nose jobs of Wall Street expected and they rushed from their expensive loos screaming “buy, buy, buy.”
To be fair, the company is not home and hosed yet. In fact it could not even be said to be at the front gate contemplating a nice hot bath and a rigorous toweling down.
Sony also forecast a preliminary full-year net loss of $1,44,841,1900 but since this was better than the than its forecast last October estimating a net loss of $ 1,959,616,100 for the year no one appears to be quibbling.
The company had said it would delay announcing the official results for the third quarter as its Hollywood studio struggled to recover from a massive hacking of its computer systems. The company, in the midst of a restructuring, said on Wednesday its Chief Executive Kazuo Hirai would announce a “new business strategy” on February 18.
The company will cut 2,100 jobs in the unit by the end of the next fiscal year through March 2016, including around 1,000 cuts already announced.
Sony’s image sensors have emerged as one of its best performing product lines in recent quarters.
