Sony still prints loss of $289 million USD but cuts annual loss forecast (SNE)
Fri. October 30, 2009; Posted: 07:44 AM
Oct 30, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/30/2009-Sony (NYSE:SNE) reported a slightly smaller-than-expected quarterly loss of 26.3 billion yen ($289 million USD) Friday morning as cost cutting measures and strong console sales helped the company take another step towards profitability. The Japan-based electronics company is now forecasting an annual loss of 95 billion yen ($1 billion USD), down from its previous forecast for a loss of 120 billion yen ($1.3 billion USD). The adjusted forecast is slightly better than the 98.9 billion yen loss reported last year.
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