Sony predicts $3.2bn loss

Electronics giant Sony announced late on Monday a revised surprise $3.18bn net loss for the fiscal year that ended in March. It originally posted a profitable projection of $857m in February.
The company said the loss was triggered by the production disruptions due to the March earthquake and tsunami and the cyber attack on its online gaming service.
Sony estimates the April hacker attack, which forced the site to stay offline for 23 days and involved the theft of personal data from over 100 million users, will cost around $171m to fix.
The electronics company was not scheduled to report final earnings until Thursday but a rule imposed by the Tokyo Stock Exchange, which requires companies to inform investors of missed earnings targets of 30 percent or above, meant it had to announce preliminary results three days early.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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