Sony losses last quarter – $581 million

Sony is going through some tough times at the moment and things didn’t exactly improve from the company’s last quarterly report, January-March 2006. When Sony presented its figures it was an “impressive” loss $581 million, even worse than last year’s loss at $495 million. Sony’s stock went down with 6 percent after the result went public. The reason for Sony’s bad result comes from big reorganizations within the company, such as development and manufacturing costs in its video game section that is usually quite profitable. The latter is of course a part of Sony’s development of the PlayStation 3 console that will mean a lot to Sony when it arrives.

Source: MSNBC