Sony (SNE) Slammed as Higher Q2 Sales Didn't Equal Higher Profit
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Sony Corp. (NYSE: SNE) is getting hit Thursday following quarterly results released earlier by the Japanese consumer electronics giant.
Ahead of the opening bell, Sony said Q2 sales were ¥1.776 trillion for net loss of ¥18.91 per share (about $0.19 per share). That compares with revs of ¥1.605 billion and loss of ¥15.41 per share reported in the same period last year.
Operating income decreased ¥15.5 billion year-on-year to ¥14.8 billion yen ($151 million). Sony said that the decrease
For the complete quarterly filing from Sony, click here. Shares are down 11.4 percent in late-morning trading.
Ahead of the opening bell, Sony said Q2 sales were ¥1.776 trillion for net loss of ¥18.91 per share (about $0.19 per share). That compares with revs of ¥1.605 billion and loss of ¥15.41 per share reported in the same period last year.
Operating income decreased ¥15.5 billion year-on-year to ¥14.8 billion yen ($151 million). Sony said that the decrease
was primarily due to a significant decline in operating results in the Pictures segment, partially offset by a significant improvement in the Mobile Products & Communications (“MP&C”) segment, reflecting strong smartphone sales, and the favorable impact of foreign exchange rates.
For the complete quarterly filing from Sony, click here. Shares are down 11.4 percent in late-morning trading.
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