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Sony cuts outlook again for smartphone business
2015-07-30 09:31:00| Telecompaper Headlines
(Telecompaper) Sony reported revenues for its fiscal first quarter to June down 0.1 percent from a year earlier to JPY 1.808 trillion. On a constant currency basis, revenues fell 7 percent, due to lower sales of smartphones and TVs, offset by growth in its cameras, gaming and components. Operating profit jumped 39 percent to JPY 96.9 billion, and net profit more than tripled, to JPY 82.4 billion from JPY 26.8 billion a year ago. Profits were helped by a number of one-time gains, including on the acquisition of the music group The Orchard and a logistics joint venture. At the mobile business, revenues fell 16.3 percent to JPY 280.5 billion, and the operating loss swelled to JPY 22.9 billion from JPY 1.9 billion a year ago. Sony sold 7.2 million smartphones in the quarter, down from 9.4 million a year earlier and 7.9 million in the previous quarter. Sony attributed the fall to a strategic decision to focus on profitability over volume. The drop in sales is expected to continue, with the annual forecast cut to 27 million smartphones sold from an estimate in April of 30 million. The revenue forecast for mobile was cut to JPY 1.190 billion, and the operating loss in 2015 is now expected to be bigger, at around JPY 60 billion. The downgrade at mobile was offset by an upgrade in the outlook for the gaming and camera divisions, allowing Sony to maintain its group outlook for slightly lower revenues and a strong improvement in operating profit over the fiscal year.
Tags: business
sony
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cuts
British Gas owner cuts 6,000 jobs
2015-07-30 08:46:04| BBC News | Business | UK Edition
Centrica, the owner of British Gas, says it is cutting 6,000 jobs, as it reports a doubling of profits at the British Gas business.
Whole Foods Cuts Outlook After 3Q Sales, Profit Miss
2015-07-30 00:10:18| Grocery - Topix.net
Whole Foods cut its sales forecast for the year after its quarterly profit and sales fell short of expectations amid intensifying competition. The retailer noted that sales growth slowed in the last two weeks of the period, when New York City officials said the chain's stores were overcharging customers by overstating the weight of pre-packed goods.
Tags: sales
miss
profit
outlook
Whole Foods cuts outlook after 3Q sales, profit miss
2015-07-30 00:10:16| Grocery - Topix.net
" Whole Foods cut its sales forecast for the year after its quarterly profit and sales fell short of expectations amid intensifying competition. The retailer noted that sales growth slowed in the last two weeks of the period, when New York City officials said the chain's stores were overcharging customers by overstating the weight of pre-packed goods.
Tags: sales
miss
profit
outlook
NEWS & ANALYSIS: UMC Cuts Expectations for 28nm Ramp on Weaker Demand
2015-07-29 20:53:44| Semiconductors - Topix.net
United Microelectronics Corp. , the world's second-largest foundry, said its ramp of 28nm process technology will slow as the outlook for demand is likely to remain weak until the first half of 2016 while the chip industry works its way out of an inventory correction. The portion of total revenue for the Hsinchu, Taiwan chipmaker from its most advanced 28nm node will probably drop to about 10% during the second half of this year after peaking at 11% in the second quarter.
Tags: news
analysis
demand
expectations
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