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Sony stock down 8%

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Sony shares fall rapidly by 7% in early trading following the poor numbers released today:

 

BBC:

Sony cuts profit forecast as first quarter loss widens

 
Sony has reported four consecutive annual losses

Japanese electronics maker Sony has cut its annual profit forecast after its first quarter loss widened.

The firm reported a net loss of 24.6bn yen ($314m; £202m) for the April to June period, compared with a loss of 15.5bn yen a year earlier.

It also cut its forecast for net income for the year to 31 March 2013 to 20bn yen, down from a projection of 30bn yen in May.

Sony has been hurt by slowing demand for TVs and a strengthening yen.

However, if Sony does report a full year profit, it would end four consecutive years of losses at the company.

Sony is in the process of restructuring its loss-making TV business and has cut 10,000 jobs.

In April, Kazuo Hirai took over as the new chief executive saying he would revive the company with a focus on game players, mobile devices and digital imaging.

Sony, which was once the biggest name in consumer electronics with products such as the Walkman and the PlayStation, has seen its dominance eroded by the likes of Samsung and Apple.

It comes at a time when the yen has surged in value, which eats into overseas profits for major Japanese exporters.



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make that 9%...



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Down a further 1.24%, they could drop below 11 today...



I had no idea Sony's market cap was so low... Sony is worth about the same as Skype?!? Am I reading this right??



man-bear-pig said:
I had no idea Sony's market cap was so low... Sony is worth about the same as Skype?!? Am I reading this right??

Depends on how you look at it, Sony obviously has way more assets, but also wayyyyyyyyyyyyyyyyyy more debt.



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man-bear-pig said:
I had no idea Sony's market cap was so low... Sony is worth about the same as Skype?!? Am I reading this right??


Skype isnt worth $11bn surely?



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Wait... which is it? I thought I saw a 9% in the title before...



Carl is a Piplup hater and deserves to be punished eternally.

kowenicki said:
man-bear-pig said:
I had no idea Sony's market cap was so low... Sony is worth about the same as Skype?!? Am I reading this right??


Skype isnt worth $11bn surely?


Microsoft paid $6bn for them two or so years ago. And they came with $150mn worth of debt. I'm not sure how much debt Sony holds but I don't think they are close 



How come it's down? Turkish posted all those positive threads for nothing?



NintendoPie said:
Wait... which is it? I thought I saw a 9% in the title before...


it changes...

it was down 7 when it opened then fell to 9, currently down about 8%



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Link: Shipment History Since 1995