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Sony posts quarterly loss on weak mobile sales
2014-10-31 08:50:00| Telecompaper Headlines
(Telecompaper) Sony reported a net loss of JPY 136 billion for its fiscal second quarter to September, hurt by an impairment charge to write down the value of its mobile business. Revenues were still up 7.2 percent year-on-year to JPY 1.902 trillion, helped by strong Playstation sales. The operating result moved to a loss of JPY 85.6 billion from a profit of JPY 13.9 billion a year ago, due to the charge of JPY 176 billion for the mobile business. Sony also took JPY 9.9 billion in restructuring charges in the quarter, of which 7.7 billion for exiting the PC business. At the mobile division, sales were up 1.2 percent to JPY 308.4 billion, but fell 4 percent at constant currency rates. The operating loss amount to JPY 172 billion, versus a profit of JPY 8.8 billion a year ago. Sony maintained its group outlook for 2014, cut in September when it warned about the mobile charge and a rethink at the phone business. It now forecasts the mobile division will report annual sales of JPY 1.35 trillion and a bigger operating loss of JPY 204 billion. The outlook was downgraded compared to the last quarterly report due to weaker smartphone sales, especially in China, as well as negative currency effects from the US dollar and restructuring costs.
STMicro Sales Forecast Misses Estimates on Weak Chip Demand
2014-10-29 16:36:56| Semiconductors - Topix.net
STMicroelectronics NV forecast weaker chip demand will cut sales this quarter, missing analysts' estimates and making it more difficult for Europe's largest semiconductor supplier to reach a key profitability target. The stock slumped.
Tags: sales
demand
estimates
weak
Total Hurt by Weak Oil Price
2014-10-29 14:09:34| Oil & Gas - Topix.net
Total SA said Wednesday that the recent slide in oil prices damped its third-quarter earnings and could hurt its results for the rest of the year, as the French oil major recovers from the sudden death last week of Chief Executive Christophe de Margerie.
Whirlpool Sees Upbeat N. America Cycle After Weak Q3
2014-10-28 23:34:44| Appliances - Topix.net
The maker of washers, dryers and dishwashers sees positive North America trends and expects full-year 2014 industry unit shipments to increase by approximately 5%. "Our North America region is poised for multiple years of growth through a strong replacement cycle, continued improvements in housing and improving discretionary demand," CEO Jeff Fettig said during the conference call.
Honda quarterly profit up on weak yen, despite some vehicle sales woes; lowers profit forecast
2014-10-28 08:21:02| Automakers - Topix.net
Honda's net profit for the July-September quarter surged nearly 18 per cent but the Japanese automaker lowered its earnings forecast for the full year, pointing to difficulties in its home Japan market. Honda Motor Co.
Tags: sales
profit
vehicle
honda
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