March 17, 2015 / 7:28 AM / in 3 years

Sony revises third quarter profit upwards in official announcement

TOKYO (Reuters) - Japanese consumer electronics maker Sony Corp 6758.T said on Tuesday its official third-quarter operating profit was 182 billion yen ($1.5 billion), up 2.2 percent from the estimate it reported last month, boosted by cost cuts and strong sales of sensors and videogames.

Sony Corp's President and Chief Executive Officer Kazuo Hirai attends a corporate strategy meeting at the company's headquarters in Tokyo February 18, 2015. REUTERS/Issei Kato

The earlier estimate wasn’t final, as Sony had not yet compiled accurate data for its Hollywood movie studio after a massive hack into its computer systems. On Feb.4 Sony said third-quarter operating profit was about 178 billion yen, nearly double year-earlier.

On Tuesday, Sony said that including official results for the movie studio, quarterly revenue rose 6.5 percent from a year earlier to 2.567 trillion yen, instead of the 2.558 trillion it estimated earlier.

Forecasts for the full-year ending March 31 were unchanged.

Sony has struggled to gain market share in high-end smartphones, lagging far behind Apple Inc AAPL.O and Samsung Electronics Co Ltd 005930.KS.

But its shares have risen more than 30 percent so far this year on hopes of a turnaround, following a program of massive cuts in unprofitable segments and targeted expansion in lucrative areas such as sensors for smartphone cameras.

($1 = 121.3800 yen)

Reporting by Ritsuko Ando; Editing by Kenneth Maxwell

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