Sony confirms $3.1bn annual loss

blindbat

http://www.bbc.co.uk/news/business-13557431

Japanese electronics giant Sony has reported a loss of $3.1bn (£1.9bn) for the year to 31 March.

The net loss was largely due to writing off $4.4bn related to a tax credit, and Sony added that the stronger yen had also affected earnings during the year.

Sony's business was also affected by the earthquake in Japan in March.

This is the third successive year that Sony has reported a loss. However, it forecast that it would return to profit in the current financial year.

Sony said that it was seeking to improve its profitability by cutting costs, and has forecast a profit of 80bn yen ($976m; £600m) for the current fiscal year.
Tough times

The Japanese manufacturer has faced many issues in the past few months.

Its production was hit by disruption to supply chains following the earthquake and tsunami on 11 March in Japan.

Last month, Sony was hit by cyber attacks that targeted its PlayStation Network and Sony Online Entertainment services, which led to the theft of personal data that included names, passwords and addresses of more than 100 million accounts.

The company has estimated the data breach will result in a $170m hit to operating profits in terms of insurance and damages costs.

:eek::eek:

Dfg

Shit man, sucks to be Sony.

-SpectraL

Anything Sony says is complete bullshit. They're natural-born liars. They still made a profit, it's just that they didn't make the profit they had their greasy little palms set on making. All these clowns like Sony cook their books and play all kinds of games while they continue to try and fuck the general public up the assholes. Right now all they want is everybody to feel sorry for them, and this is their little way of trying to do that.

MooseKnuckle

guess i better buy toshiba

Hornyvoy

I pretty much hate sony as a company I think the do lots to help advance the electronics industry. And for that I say thank you. Now go suck a dick roll over and die

DaGuru

Well then....I guess they better get their fuckin PSN Store back up, so they can finally release the Escalation expansion pack for Black Ops, which has been out for Xbox since May 3rd. :thumbsdown:

The very HOUR that is available I'll eagerly give them another $14.99...and then they can start becoming profitable again. :fap:

MooseKnuckle

you see the appreciation program DG?

http://blog.us.playstation.com/2011/05/16/details-for-playstation-network-and-qriocity-customer-appreciation-program-in-north-america/