Sony first-quarter operating profit falls just 1.1%, beats analyst estimates

Japan's Sony Corp on Tuesday reported a 1.1% decline in first-quarter operating profit, much milder than market estimates as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games. The electronics and entertainment firm posted April-June profit of 228.4 billion yen ($2.15 billion), versus 230.9 billion yen a year prior. The firm also forecast profit to fall 26.7% to 620 billion yen in the year through March 2021, its lowest in four years, but better than a drop of at least 30% it estimated in May.