Sony Narrows Loss in Q2

TOKYO: Sony Corporation posted a net loss attributable to shareholders of 15.5 billion yen ($194 million) compared to the year-ago loss of 27 billion yen ($337 million).

Sony saw its operating income increase, at 30.3 billion yen for the second quarter, compared to last year’s operating loss of 1.6 billion yen. Its restructuring charges decreased 17.3 billion yen year-on-year to 11.5 billion yen. There was a net benefit of 13.2 billion yen from insurance recoveries related to the Thailand floods. 

For the full year, Sony has kept its earnings estimates for a net profit of 20 billion yen and an operating profit of 130 billion yen. It lowered its sales outlook to 6.6 trillion yen from 6.8 trillion yen.