Kevin Butler spins the figures
A bad time for Sony just got a lot, lot worse with the company blaming the Tsunami and earthquake of March 11th for an expected loss of $3.2 billion for the fiscal year ended March.
This compares to its previous forecast of a return to profit with a plus figure of $860 million, following last year's $439 million loss.
The expected loss for the year comes as a FactSet survey, reported by Forbes, of analysts predicts a 59 billion yen ($728 million) quarterly loss on 1.57 trillion yen ($19.4 billion) sales. This compares to loss of 56.6 billion yen ($608 million) for January-March 2010.
Sources:
Forbes
Sony
This compares to its previous forecast of a return to profit with a plus figure of $860 million, following last year's $439 million loss.
The expected loss for the year comes as a FactSet survey, reported by Forbes, of analysts predicts a 59 billion yen ($728 million) quarterly loss on 1.57 trillion yen ($19.4 billion) sales. This compares to loss of 56.6 billion yen ($608 million) for January-March 2010.
Sources:
Forbes
Sony
Companies:
Sony
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