Sony Q2 Profit Down 86% On Lower Sales - Quick Facts

(RTTNews) - Japanese consumer electronics maker Sony Corp. (SON.L, SNE) reported that its second-quarter net income attributable to stockholders fell 85.6 percent to 4.8 billion Japanese yen or $48 million from last year's 33.6 billion yen. Earnings per share dropped 85.6 percent to 3.76 yen or $0.04 from 26.10 yen last year.

Operating income declined 48 percent to 45.7 billion yen or $453 million from 88.0 billion yen in the prior year.

The decline in operating income was mainly due to the deterioration of operating results in the Semiconductors and Components segments, partially offset by improvements in the Pictures and MC segments.

Sales and operating revenue for the quarter declined 10.8 percent to 1.69 trillion yen or $16.72 billion from 1.89 trillion yen a year ago, mainly due to the impact of foreign exchange rates. On a constant currency basis, sales were essentially flat year-on-year.

Looking ahead to the fiscal year ending March 31, 2017, Sony affirmed the outlook it provided on October 31.

The company continues to expect full-year attributable net income of 60 billion yen, and operating income of 270 billion yen. The company also affirmed its full-year outlook for sales and operating income of 7.4 trillion yen.