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Sony declines to comment on Q3 financial speculation

Reports state company will announce $1.1bn profit, marking first increase in five years

Sony has declined to comment on today's reports stating that the company is set to announce a ¥100 billion ($1.1 billion / £690 million) operating profit for the October-December quarter - the first increase in Q3 profit for the company in five years.

According to Nikkei (reported by Reuters), the Sony Computer Entertainment division will also post its first profit in four quarters for the period - a result that would largely be down to buoyant sales of the PlayStation 3 since its price drop, and a decrease in the hardware's manufacturing costs.

However Sony released a statement earlier today in specific regard to the story, stating that it has made no official announcement on its quarterly results.

"Certain media reported today on matters relating to Sony Corporation's upcoming consolidated financial results for the third quarter ended December 31, 2009 and the outlook for the fiscal year ending March 31, 2010," it read.

"Sony has made no announcement in this regard and has no comment. Sony plans to release its consolidated financial results for the third quarter on February 4, 2010."

Nikkei's predictions were even higher than the general market consensus on Sony's results, which estimate profit of ¥74.2 billion.

The Japanese newspaper also cited strong sales of LCD TVs, payroll cuts and consolidation of facilities as helping the business return to the break-even level on an operating basis.

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