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Sony Q1 operating profit drops 1.1%, but beats analyst…

TOKYO, Aug 4 – Japan’s Sony Corp on Tuesday reported a 1.1% drop in first-quarter operating profit, bracing for the lowest annual profit in four years as the coronavirus outbreak continues to dampen various business segments.

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.

That compared with the 143.21 billion yen average of 10 analyst estimates compiled by Refinitiv.

The company also forecast operating profit to fall 26.7% to 620 billion yen in the year through March 2021, its lowest in four years. ($1 = 106.0600 yen) (Reporting by Makiko Yamazaki; Editing by Christopher Cushing)

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