Sony Cuts Outlook on Film Unit Writedown, Profit Decline
- Struggling movie division weighs on full-year profit outlook
- PlayStation game console posts best-ever quarterly sales
Jefferies' Goyal: Sony Is Continuing on Right Path
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Sony Corp.’s struggling movie division is weighing on the rest of the company, even as the PlayStation is booming and semiconductors show signs of a rebound.
The electronics and entertainment company cut its full-year profit forecast a second time in three months after posting quarterly earnings that missed estimates, following a 112 billion yen ($1 billion) charge against its film business that was unveiled earlier this week.