TOKYO Feb 8 Shares of Sony Corp
dropped more than 6 percent to 1,405 yen on Friday after its
profit in the October-December quarter missed market
expectations, increasing scepticism that the maker of Bravia TVs
and the PlayStation can regain its former status.
For the three months ended Dec. 31, Sony posted an operating
profit of 46.4 billion yen ($498 million), undershooting the
average 72.1 billion yen estimated by six analysts according to
Thomson Reuters Starmine. That compared with a 91.7 billion yen
operating loss a year earlier.
It stayed in the red on a net basis, reporting a quarterly
loss of 10.8 billion yen, versus a 159.0 billion yen net loss a
year ago. The company stuck to its annual forecast for a net
profit of 20 billion yen in the year ending March
"The company's stock has been bought because of a weakening
yen, but unless it can show that its top line is also growing,
it does not look very attractive," said Hajime Nakajima, a
deputy general manager at Iwai Cosmo Securities.
Sony's share price rocketed 42.1 percent in January,
catching up with sharp gains in the Nikkei after a lag through
November and December.