SONY: BACK IN THE BLACK AFTER FIRST QUARTER RESULTS
Japanese firm Sony is back in the black after the first quarter of 2010-11, thanks to television and PC sales. Sony reported profits of 25.7 billion Yen (293 million USD), against last year’s losses of 37.1 billion Yen.
In order to redress the balance, Sony’s president and CEO Howard Stringer was forced to make drastic cuts. The company’s yearly profits also rose by 20%, now amounting to 60 billion Yen. .