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Sony Lowers Forecast, Plans To Sell Vaio PC Business

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Sony (NYSE: 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.

Posted-In: profitEarnings News Guidance M&A


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