Japanese Quake Dents Sony’s Profits
Sony has announced a 15.5 billion yen ($191 million) loss for the quarter April to June 2011. The company says that the earthquake, a weak business environment and a strong yen contributed to the loss.
The same quarter also saw extensive hacking of Sony’s online systems. In light of these figures, Sony has revised its earlier projections for the rest of the year. It is now predicting a profit of 60 billion yen, down from the previous target of 80 billion yen.