Sony Corp posts net loss of $386 million

MUMBAI: Sony Corp has posted a net loss of $386 million in the first quarter ended in March as compared to a profit of 35 billion yen in the year-earlier period.

The company’s total revenue fell 19 per cent to $16.7 billion.

However, revenues at Sony Pictures Entertainment were up 15 per cent to $1.8 billion and gave a profit of $19 million.

The company released movies like Angels & Demons and Terminator Salvation, which contributed to the revenues.

Additionally, sales at the music division were also up after Sony Music Entertainment became a wholly owned subsidiary in October 2008. Profit from music was $56 million on revenues of $1.1 billion.

The electronics division saw a drop in revenue by 27 per cent resulting in a loss of $20 million. The games business saw revenue decline of 37 per cent and saw a loss of $414 million.