Sony Forecasts Loss Topping $1 Billion for Year
Sony Corp. said Wednesday it swung to a net loss for the three months ended Sept. 30 and now expects to lose well over $1 billion this fiscal year, as the strong yen dents sales outside Japan and its loss-making television business continues to struggle.
The Japanese entertainment and electronics conglomerate reported a net loss of ¥27 billion ($345.7 million) in its fiscal second quarter, compared with a year-earlier profit of ¥31.1 billion. Revenue was down 9.1% to ¥1.575 trillion.
