Sony posts $391 million loss

Posted on Thursday, July 30 2009 @ 18:35 CEST by Thomas De Maesschalck
Japanese electronics giant Sony posted a net loss of 37.1 billion yen ($391 million) for its fiscal first quarter, compared with a 35 billion yen profit in the same period a year before. Quarterly sales were hit 19.2 percent to 1.56 trillion yen ($16.4 billion). Sony's results were better than anticipated due to cost cutting, currency exchange rates and stock market gains. More info at Yahoo News.
The results were better-than-expected because of cost cuts, an easing of the yen's appreciation and gains on the Tokyo stock market, according to Sony, which has music and movie divisions as well as making the Walkman portable music player and flat panel TVs. Analysts surveyed by Thomson Reuters were forecasting a 109 billion yen loss.


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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