Sony expects operating profit this year

Sony expects operating profit this year, but not from selling product
Ahead of today's expected PlayStation console reveal, Sony announced it's forecasting an operating profit by the end of its fiscal year next month. Reuters reports the company plans to do this by selling six percent of its shares in M3 Inc, a marketing company, which will result in a ¥115 billion ($1.23 billion) operating profit.

Sony has also shifted other assets -- rather than product -- to place itself in this position. The company announced in January it was selling its New York City headquarters for $1.1 billion, with the proceeds from that, estimated at $770 million, to be recognized in this fiscal year.

Speaking of New York City, Sony will hold its PlayStation event this evening
at 6PM. Join us.

[Image: Adriano Castelli via Shutterstock]

This article was originally published on Joystiq.