Sony Lowers Forecast, Plans To Sell Vaio PC Business

Sony SNE posted a profit in the October-December quarter and lowered its forecast for the fiscal-year ended March. For the fiscal-year ended March, Sony now expects a loss of 110 billion yen ($1.1 billion), versus a profit of ¥30 billion. The company announced its plans to sell its Vaio personal-computer business to Japan Industrial Partners and also announced its plans to lower around 5,000 jobs by the end of March 2015. Sony posted a quarterly net profit of ¥27 billion versus a year-ago loss of ¥10.8 billion. Its revenue climbed to ¥2.41 trillion from ¥1.95 trillion. Its operating profit came in at ¥90.3 billion, versus estimates of ¥71.9 billion. Sony shares gained 0.63% to $16.00 in pre-market trading.