Sony posts quarterly loss, cuts outlook
Sony Corp cut its full-year profit targets and posted a net loss for the September quarter as its struggling TV operation fell back into the red, highlighting the difficulties it faces restoring its electronic hardware operation to profit. Sony posted a net loss of 19.3 billion yen ($196.65 million) for its second quarter. Its TV operation flipped from a 5.2 billion yen operating profit in the first quarter to a 9.3 billion yen loss. Its operating profit forecast for the year to next March was cut to 170 billion yen from 230 billion yen.
Exxon's quarterly profit down 18%
Exxon Mobil Corp, the world's largest publicly traded oil company, on Thursday reported an 18 percent decrease in quarterly profit on weakness in its refining business. Profit in the third quarter was $7.87 billion, or $1.79 per share, compared with $9.57 billion, or $2.09 per share, in the same period a year earlier.
