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Sony Posts Record $6.4 Billion Loss

Sony has more than doubled its net loss guidance to $6.4 billion, citing as the reason an additional $3.7 billion U.S. tax charges. The loss is Sony’s biggest yet and far more than the full-year loss of $2.6 billion that analysts expected.

The once lucrative Japanese tech company’s shares dove 3.5% ahead of the announcement. And, in turn, it forecasted $2.2 billion in profits for the current financial year, likely in an effort to ease the rising fears of its investors.