Sony trims quarterly loss to $115 million

TOKYO (AP) ? Sony is still struggling but has reduced its red ink for the latest quarter to a 10.7 billion yen ($115 million) loss.

The Japanese electronics and entertainment company reported a 158 billion yen loss the same period the previous year.

Its result Thursday showed that quarterly sales inched up nearly 7 percent to 1.95 trillion yen ($21 billion) despite declining sales of gadgets such as flat-panel TVs and Blu-ray video recorders as Sony got a perk from a weaker yen.

The yen has been weakening because of expectations the central bank will ease monetary policy. A weak yen generally helps Japanese exporters such as Sony by boosting overseas profits.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-02-07-Japan-Earns-Sony/id-e1f359b64de846c3b1704b61dfbe752f

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