Sony Q2 Loss Widens, Cuts Annual Forecast - Quick Facts

(RTTNews) - Japanese consumer electronics firm Sony Corp. (SNE, SON.L) Thursday reported a wider loss for the second quarter and lowered its full year forecast.

Net loss attributable to the company's stockholders widened to 19.3 billion yen or 18.91 yen per share from 15.5 billion yen or 15.41 yen per share in the previous year.

Sales and operating revenue increased 10.6 percent to 1.776 trillion yen from 1.605 trillion yen, amid favorable currency impact and increased sales of smartphones.

Looking ahead to the fiscal year, the company now expects net income attributable to stockholders of 30 billion yen, compared to the previous projection of 50 billion yen.

Consolidated sales for the year are expected to be 7.7 trillion yen, down from 7.9 trillion yen forecast earlier, due to a downward revision in the annual unit sales forecasts for some electronics products.

Operating income is now estimated to be 170 billion yen, in comparison with the August forecast of 230 billion yen.