TOKYO (AP) — Electronics and entertainment giant Sony Corp. is reporting a 19.3 billion yen ($196 million) loss for the latest quarter on weakness in its movies division.
The July-September loss, reported Thursday, put Sony back in the red after it reported a 3.5 billion yen profit in the previous quarter.
Sales rose 10.6 percent from a year earlier to 1.78 trillion yen ($18.1 billion).
Sony slashed its profit forecast for the fiscal year ending in March to 30 billion yen from 50 billion yen, due to weak sales and strong price competition.
Rival Panasonic said its quarterly profit improved to 63.3 billion yen ($644 million) from a 698.6 billion yen loss the year before.