Sony cuts FY outlook again as film writedown hits quarterly profit

Tokyo

SONY Corp cut its full-year profit forecast a second time after posting quarterly earnings that missed estimates on a writedown at its struggling movie division.

Net income will be 26 billion yen (S$326 million) in the 12 months ending March, down from an already-reduced outlook for 60 billion yen, the Tokyo-based company said in a statement on Thursday. Operating profit for the quarter ended in December was 92.4 billion yen, compared with the 154 billion yen-average of estimates compiled by Bloomberg.