Sony Posts Q3 Loss

Sony SNE reported a loss in the second quarter. Sony posted an operating loss of 85.6 billion yen in the quarter, versus a year-ago profit of 14.8 billion yen. However, analysts were expecting an operating loss of 164.3 billion yen. Sony posted a quarterly net loss of 136 billion yen ($1.2 billion), versus a year-ago loss of 19.6 billion yen. The company also held its net loss outlook at 230 billion yen for the full year. Its sales rose 7% to 1.9 trillion yen ($17.3 billion) in the quarter. The company's mobile segment posted an operating loss of Yen172.0 billion, versus a year-ago profit of Yen8.8 billion. Sony's PlayStation business posted an operating profit of Yen21.8 billion, versus a year-ago loss of Yen4.2 billion. The devices segment posted an operating profit of Yen29.6 billion, compared to a profit of Yen11.9 billion. The home entertainment and sound segment posted an operating profit of Yen8.0 billion, versus a year-ago loss of Yen12.1 billion. The imaging products & solutions segment posted an operating profit of Yen20.1 billion, versus a year-ago loss of Yen2.3 billion. Sony raised its full-year operating profit outlook for its gaming division to 35 billion yen. However, the company cut its smartphone sales forecast to 41 million handsets, versus 43 million. Sony shares rose 1.96% to close at $18.72 yesterday.