It appears you have not yet registered with our community. To register please click here...

Go Back [M] > Madshrimps > WebNews
Sony slashes profits again Sony slashes profits again
FAQ Members List Calendar Search Today's Posts Mark Forums Read

Sony slashes profits again
Thread Tools
Old 5th May 2014, 07:57   #1
[M] Reviewer
Stefan Mileschin's Avatar
Join Date: May 2010
Location: Romania
Posts: 111,834
Stefan Mileschin Freshly Registered
Default Sony slashes profits again

Sony is warning that it will have another steep decline in profits, which suggests that chief executive Kazuo Hirai might be making a trip to the car park, writing a haiku about the briefness of life before hacking into his stomach with a steak knife while his secretary covers him with cherry blossom.

Hirai is not fulfilling the promises he made upon becoming Shogun of the electronics giant two years ago to push electronics into the black. There is also his five cuts to earnings guidance during his reign and this is just two weeks before Sony announces full year results.

What makes matters worse is that he is doing all this while rebuffing advice from billionaire hedge fund manager Daniel Loeb's to spin off Sony's profitable entertainment business.

Sony cut its forecast for operating profit to $254.53 million for the business year ended in March from a previous estimate.

The problem appears to be the Vaio PC unit which is still costing the company a fortune and the disk production unit, which is being kicked to death by online streaming services.

Sony widened its annual net loss estimate to 130 billion yen from the 110 billion it forecast in February, when it reversed a previous profit outlook.

Its rival Panasonic has staged a revival from deep losses by embracing industrial products and selling to businesses rather than consumers. But it has beaten its conservative forecasts while Sony has become known for missing overly optimistic outlooks.

Before Thursday's cut, Sony had missed its forecasts in 10 of the prior 12 years, excluding gains from asset sales, the worst among 30 Japanese consumer electronics makers, analysts at brokerage firm Jefferies calculated in March.

By comparison, Panasonic, with the best record, exceeded its guidance nine times over the same period.
Stefan Mileschin is offline   Reply With Quote

Similar Threads
Thread Thread Starter Forum Replies Last Post
HTC profits tank Stefan Mileschin WebNews 0 5th February 2013 07:25
Intel slashes marketing budgets Stefan Mileschin WebNews 0 10th December 2012 08:24
AMD Slashes Prices of 17 Socket FM1 and AM3 Processors Stefan Mileschin WebNews 0 7th November 2012 08:06
Toshiba slashes chip production Stefan Mileschin WebNews 0 25th July 2012 07:26
AMD slashes prices, adds new Athlon IIs jmke WebNews 0 20th October 2009 17:36
Nvidia slashes Q4 guidance up to 50% jmke WebNews 0 14th January 2009 19:10
OCZ slashes Core SSD Prices: 64Gb for $99 jmke WebNews 0 18th September 2008 10:15
AMD slashes Phenom prices jmke WebNews 0 17th December 2007 14:37
AMD Slashes Opteron Pricing jmke WebNews 0 1st November 2006 14:28
ATI Slashes Factory Warranty Period jmke WebNews 1 29th September 2005 19:12

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

All times are GMT +1. The time now is 06:54.

Powered by vBulletin® - Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO