Sony to post $3.2 billion annual loss

By on May 24, 2011 at 2:19 AM
Business May 24, 2011

Sony Chief Financial Officer Masaru Kato announced to the press on Monday that the company expects to post an annual loss of $3.2 billion for its fiscal year ending in March 2011 — the second largest loss in company history. The news comes as yet another blow for the Japanese consumer electronics giant, whose online networks have been the target of a series of cyberattacks that impacted more than 100 million customers. Sony had previously expected to post a profit this year, however the company had to write off $4.4 billion for a tax credit from a previous quarter. A series of earthquakes that rocked Japan earlier this year had a negative impact on the company as well, slowing production and destroying factories. The affect of the quakes carried over to the company’s first quarter, Kato told the press, but Sony is still optimistic about 2011/2012. For the fiscal year ending in March 2012, Sony expects to post an operating profit of 200 billion yen, or $2.45 billion at today’s exchange rate.

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8 Comments

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  • Anonymous

    Ha-ha…

  • Anonymous

    I guess this goes to show: Don’t piss off computer nerds with a lot of time on their hands.

    • Anonymous

      ‘A lot of time’ really not needed, just don’t piss off! [dangle proposition]

  • Ckb1980

    Only no life fags would be happy about a top company posting a loss.  Things like that lead to lay offs in Japan and North America.  Our economy is messed up enough.  The bulk of the loss came from the quake not the self important losers that attacked the network.  I can’t wait to see Sony take those “Anonymous” punks for everything they will ever earn.  Maybe an article on a 20 year old kid committing suicide from losing a billion lawsuit will stop these morons from attacking companies and their information.

    • Anonymous

      I know you’re really on a hate-roll right there, and I’m sorry to interrupt, but finding a file titled “Anonymous.txt” is not exactly ironclad proof that Anonymous was involved. I’m not trying to white knight them. I don’t frequent 4chan. But… that’s not much to go on. That’s not to say that they did or didn’t do it; I’m merely pointing out that it hasn’t been proven.

      That having been said, only an idiot would cheer a corporation losing money, but… are you new to the internet? Fanboys, fanboys everywhere.

  • Sdsad

    that is one detailed pic…

  • Anonymous

    Sony is into a lot of different types of electronics and its game products are only a slice of a much larger corporate pie. In the past 15 years, Sony badly mismanaged several professional and consumer electronic product lines, including consumer video cameras/recorders, where it insisted on using its semi-proprietary “Memory Stick” memory products. Memory Stick got blown away by SD memory and Sony is just now recovering from that mistake.

    And Sony has lost its stature in the television broadcast business, where it went from being the “must-have” supplier of expensive cameras and recorders to just another manufacturer… and not a particularly desirable one at that. Sony’s consumer electronics are good, but so are many other companies’ products at competitive prices. In the past 15 years, Sony has squandered its reputation — it’s one of the big unreported stories in the business world.

  • http://twitter.com/BrSwa Brandon

    This concept still alludes me. If your already expecting to be 3.2 BILLION in the red, don’t you think you need to start rethinking some things?! I understand you have to take a hit for the PSN fiasco and that’s the cost of doing business but billions just lost…

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