Sony posts US$390.5m loss, sticks to forecast
SONY Corp, maker of the hit PlayStation game console, reported a smaller-than-expected quarterly loss but maintained its forecast for more red ink as the company takes a beating from the strong yen and slumping global electronics sales.
The Japanese electronics and entertainment company said yesterday its net loss for the fiscal first quarter was 37.1 billion yen (US$390.5 million) compared with a 35 billion yen profit in the April-June period a year earlier. Quarterly sales dropped 19.2 percent to 1.56 trillion yen.
The results were better than expected because of successful cost cuts, an easing of the yen's appreciation and some recovery on the Tokyo stock market, according to Sony, which has music and movie divisions. Analysts surveyed by Thomson Reuters were forecasting a 109 billion yen loss.
Tokyo-based Sony stayed cautious and kept its forecast for the fiscal year through March 2010 unchanged at a 120 billion yen loss, citing market uncertainties.
For the quarter through June 30, Sony continued to lose money in its core businesses, including consumer electronics and video games.
In a plus for the future, Sony said it had finalized a deal with Japanese rival Sharp Corp on a joint venture to produce and sell large-size liquid crystal display panels for TVs.
The Japanese electronics and entertainment company said yesterday its net loss for the fiscal first quarter was 37.1 billion yen (US$390.5 million) compared with a 35 billion yen profit in the April-June period a year earlier. Quarterly sales dropped 19.2 percent to 1.56 trillion yen.
The results were better than expected because of successful cost cuts, an easing of the yen's appreciation and some recovery on the Tokyo stock market, according to Sony, which has music and movie divisions. Analysts surveyed by Thomson Reuters were forecasting a 109 billion yen loss.
Tokyo-based Sony stayed cautious and kept its forecast for the fiscal year through March 2010 unchanged at a 120 billion yen loss, citing market uncertainties.
For the quarter through June 30, Sony continued to lose money in its core businesses, including consumer electronics and video games.
In a plus for the future, Sony said it had finalized a deal with Japanese rival Sharp Corp on a joint venture to produce and sell large-size liquid crystal display panels for TVs.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.