Sony Posts Wider Q2 Loss, Lowers Outlook

Sony

reported a wider fiscal second-quarter net loss and lowered its full-year profit view. Sony posted a quarterly net loss of Y19.3 billion ($196 million), versus a year-ago loss of Y15.5 billion. However, analysts were expecting a net profit of Y12.08 billion. Its operating profit declined 51% to Y14.8 billion from Y30.3 billion, while revenue climbed 11% to Y1.78 trillion from Y1.6 trillion. For the full fiscal year, it lowered its net profit forecast to Y30 billion, from Y50 billion. Sony now expects revenue of Y7.7 trillion, from its prior view of Y7.9 trillion. Sony shares closed at $19.42 yesterday.