Sony Posts Q3 Loss, Projects Wider Fiscal-Year Loss

Sony Corp

posted a loss for the three months ended December 31 and projects a wider fiscal-year loss. Sony posted a quarterly net loss of Y159.0 billion ($2.1 billion), versus a year-ago net profit of Y72.3 billion. Its revenue dropped 17% to Y1.822 trillion. For the fiscal year through March, Sony now expects a net loss of Y220 billion, versus its earlier forecast for a Y90 billion net loss. It now projects revenue of Y6.4 trillion, versus Y6.5 trillion. Sony shares dropped 5.72% to $17.15 in pre-market trading.