Sony's loss grows to $316 million despite sales recovery
LAS VEGAS, NV - JANUARY 06: A general view of the Sony booth at the 2011 International Consumer Electronics Show at the Las Vegas Hilton January 6, 2011 in Las Vegas, Nevada. CES, the world's largest annual consumer technology tradeshow, …
Posted: 08/02/2012
TOKYO (AP) - Sony is reporting a bigger loss for the April-June quarter at 24.6 billion yen ($316 million) despite a sales recovery from a disaster-struck previous year.
The Japanese electronics and entertainment company said Thursday its income was hurt by a surging yen, which erases overseas earnings, and by declining sales of liquid-crystal display TVs and video game machines.
Tokyo-based Sony Corp. said it's expecting to return to the black for the fiscal year through March 2013, with a 20 billion yen ($256 million) profit. It posted a 456.6 billion yen loss in its last business year.
That was the fourth straight year of losses and the biggest loss in the 66-year history of the maker of the PlayStation game machines, "Spider-Man" movies and the Walkman portable.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
Top Money Headlines
-
She says cell carrier let her down
Can you hear me now. That is exactly what one cell phone customer found herself asking over and over again. Terry Sapp told our Taking Action reporter Jackie Callaway she simply could not get service of any kind from her carrier.
-
Kmart unleashes another near-profane ad
-
4 credit score myths that are not true
-
RECALL: Cadillac SUV wheels may fall off
-
Consumer Reports: Best & worst airlines
-
Good news: Used car prices finally drop
