Sony's loss grows despite sales recovery
Sony is reporting a bigger loss for the April-June quarter at 24.6 billion yen ($316 million) despite a sales recovery from a disaster-struck previous year.
The Japanese electronics and entertainment company said Thursday its income was hurt by a surging yen, which erases overseas earnings, and by declining sales of liquid-crystal display TVs and video game machines.
Tokyo-based Sony Corp. said it's expecting to return to the black for the fiscal year through March 2013, with a 20 billion yen ($256 million) profit. It posted a 456.6 billion yen loss in its last business year.
That was the fourth straight year of losses and the biggest loss in the 66-year history of the maker of the PlayStation game machines, "Spider-Man" movies and the Walkman portable.