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Sony Corp revises profit projections after tricky quarter
By Chris Cooke | Published on Friday 1 November 2013
I mean, the One Direction boys are trying their best to keep Sony Corp afloat with their world domination strategy, but if the entertainment conglom’s film division will insist on releasing shit action movies about attacks on the White House, well even Harry Styles can’t carry that disaster.
So yes, Sony Corp yesterday confirmed it had made just under a $200 million loss for the last quarter, which is a shame because – after several years of woe – the more recent narrative at the Japanese entertainment and electronics firm had been more positive. The company still expects to make a profit this year, but revised its expectations downwards, from 50 billion yen to 30 billion.
The consumer electronics side of Sony, behind most of the firm’s recent problems, continues to struggle, meanwhile Sony Pictures posted an overall loss this quarter, in no small part because of the lacklustre performance of the studio’s big summer blockbuster, mediocre action flick ‘White House Down’.
Earnings at the Sony music companies – principally the Sony Music record company and Sony/ATV music publishing business – were pretty much on par with the same period a year ago, though in the wider picture are performing well for the conglom.
