Sony Reports Record Annual Loss - The Missourian: More News

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Sony Reports Record Annual Loss

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Posted: Thursday, May 10, 2012 9:04 am

TOKYO (AP) — Sony Corp. racked up a record annual loss of 457 billion yen ($5.7 billion) in its fourth straight year of red ink as the once-glorious maker of the Walkman and PlayStation struggles toward a turnaround under a new president.

The electronics and entertainment company, which also makes "Spider-Man" movies, reported Thursday a loss of 255 billion yen ($3.2 billion) for the January-March period — its fifth straight quarterly net loss to round out a fiscal year that was the worst in its 66-year corporate history.

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