Sony posts quarterly loss

Editorial Team
Editorial Team
Sony posts quarterly loss

Japanese electronics and entertainment giant Sony has reported a 19.3 billion yen loss for the July-September quarter.

The loss puts the firm back in the red after it reported a 3.5 billion yen profit in the previous quarter.

Sales rose 10.6 percent from a year earlier to 1.78 trillion yen.

Sony’s Pictures division made a huge loss.

“The current quarter reflects the theatrical underperformance of White House Down, while the previous fiscal year included the strong theatrical performance of the Amazing Spider-Man,” the firm said in a statement.

Rival Panasonic meanwhile, which has heavily restructured and sold off a number of assets, announced that its quarterly profit improved to 63.3 billion yen from a 698.6 billion yen loss the year before and raised its full year earnings forecast.

Sony slashed its full year profit forecast by 40 percent.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.