Sony Financial Woes Grow - PS4 Success a Must
Sony posts another loss... blames movies
Sony's financial state is not one to be proud of. It's second financial quarter has shown another loss leading it to cut its profit predictions for the entire year. It really does need PS4 to win big.
According to Marketwatch, "The Japanese electronics giant said net loss for the three months ended Sept. 30 widened to Y19.3 billion ($196 million) from a loss of Y15.5 billion a year earlier. Analysts polled by Thomson Reuters had projected a net profit of Y12.08 billion for the quarter.
"Operating profit fell 51% to Y14.8 billion from Y30.3 billion, even as revenue rose 11% to Y1.78 trillion from Y1.6 trillion."
These figures follow the company's first losing year (2012/2013) in five. It is blaming its movie business and exchange rates for its current woes though.
Source: Marketwatch
According to Marketwatch, "The Japanese electronics giant said net loss for the three months ended Sept. 30 widened to Y19.3 billion ($196 million) from a loss of Y15.5 billion a year earlier. Analysts polled by Thomson Reuters had projected a net profit of Y12.08 billion for the quarter.
"Operating profit fell 51% to Y14.8 billion from Y30.3 billion, even as revenue rose 11% to Y1.78 trillion from Y1.6 trillion."
These figures follow the company's first losing year (2012/2013) in five. It is blaming its movie business and exchange rates for its current woes though.
Source: Marketwatch
Companies:
Sony
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