Sony Reports 2nd-Qtr Profit Oct 28, 2002

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Sony Corp. posted a larger-than-expected fiscal second-quarter profit, aided by cost cuts at its electronics business and a sixfold surge in earnings at its PlayStation video-game unit. Group net income at the consumer-electronics maker was 44.1 billion yen (U.S. $353 million), or 47.89 yen a share,
for the 3 months ended Sept. 30, compared with a loss of 13.2
billion yen, or 14.34 yen, a year ago. The second-quarter results reflect Sony's attempt to bolster profit by cutting operating and production costs. The maker of the PlayStation 2 video-game console pared costs this year by negotiating prices, buying components in bulk and using the same parts in different products. (Bloomberg News)

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