Sony warns on profits after film flop

Nick Goodway
Friday 01 November 2013 01:00 GMT
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Sony Pictures' flopbuster film White House Down helped to push the Japanese entertainment and electronics giant to even bigger losses in the latest quarter and chop its full-year profit forecast by 40 per cent.

White House Down, an action movie released in June, failed at the box office. The picture division swung from a profit of ¥7.9bn (£50m) to a loss of ¥17.8bn. That helped to push the total loss for the quarter up from ¥15.5bn to ¥19.3bn. Sony slashed its profits forecast for the year from ¥50bn to ¥30bn.

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