Sony Reports Wider Loss, Projects $975.6 million Net Profit For Current Fiscal Year

Sony Corp SNE released its results for the fiscal fourth quarter and the full year on Thursday. For the full business year, Sony posted a net loss of Y259.59 billion ($3.2 billion), wider than a loss of Y40.80 billion, in the year-earlier period. Its revenue dropped 0.5% to Y7.181 trillion from Y7.214 trillion. However, its operating profit surged more than six-fold to Y199.82 billion. Sony posted a net loss of Y388.80 billion, wider than a loss of Y56.57 billion, in the year-earlier period. Sony reported an operating loss of Y73.37 billion, versus a loss of Y56.04 billion, in the year-earlier period. Its revenue dropped 7.8% to Y1.581 trillion from Y1.715 trillion. For the current fiscal year, Sony projects to post a net profit of Y80 billion ($975.6 million), and projects to post an operating profit of Y200 billion on revenue of Y7.500 trillion. Sony shares dropped 0.18% to $27.60 in after-hours trading. Read more from Benzinga's Company news.