Sony Reports $312 Million Loss In Q1 2012

Posted Aug 2, 2012

Sony has reported their Q1 2012 results for the fiscal year.  The company has lost $312 million on sales of $19.2 billion.  The good news is that Sony reported an increase on sales year-on-year by 1.4%.  This was largely attributed to the consolidation of Sony Mobile.  However they had to deal with $143 million in restructuring costs.  This caused operating income to slide from $270 million to $79 million.  Between the restructuring issue, the high yen, and instability in the Europe economy, Sony has downgraded their operating profit forecast for the year from $2.29 billion to $1.66 billion.