Sony Swings to Loss, Slashes Full-Year Forecast
Sony Corp. said Thursday it veered into a fiscal third-quarter net loss of more than $2 billion and forecast a much wider full-year loss than previously expected, dragged down by losses in its television business and the impact of the strong yen on its European operations.
The Japanese entertainment and electronics conglomerate reported a net loss of ¥159 billion ($2.09 billion) for the quarter ended Dec. 31, compared with a net profit of ¥72.3 billion in the year-earlier period. Revenue fell 17% to ¥1.822 trillion during the quarter.
