Sony Net Slips 8.6 Percent
Sony Corp. said Thursday its net profit in the October-December period was down 8.6 percent from a year earlier, weighed by the strong yen and thin margins in its television business.
The Japanese electronics conglomerate reported a net profit of 72.3 billion yen ($885.7 million) for the fiscal third quarter, down from a year-earlier 79.2 billion yen. It beat the mean forecast of 66.96 billion yen from six analysts polled by Thomson Reuters.
Revenue slipped 1.7% to 1.98 trillion yen, while operating profit dropped 5.9% to 137.5 billion yen.