UPDATE: Sony Swings To Quarterly Loss

Sony Corp

swung to a quarterly net loss on Thursday. Sony posted a loss at 15.5 billion yen ($199 million) in the April-June quarter, versus a profit of ¥25.7 billion, in the year-ago quarter. Its quarterly sales dropped 5% to 1.49 trillion yen ($19 billion). Sony lowered its group net profit outlook for the fiscal year to ¥60 billion ($769 million), from its earlier forecast of ¥80 billion ($1 billion). It also lowered its sales outlook for the fiscal year to 7.2 trillion yen ($92 billion), from 7.5 trillion yen ($96 billion). Sony shares dropped 2.30% to $25.01 in after-hours trading.