If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Sony shares hit 32 year low

Drop 7 per cent after it reported $5.7 billion annual loss

Sony Corporation's worrying financial results have contributed to a 6.7 per cent drop in share price bringing them to ¥1,110, their lowest since 2008.

"I didn't see anything positive in there," a US trader told Reuters. "There is really nothing in there that can justify buying the stock."

"You see the loss narrowing in the TV business. That's fine, but I don't see any future in the TV business, so it doesn't matter what they do."

The most recent financial reports have clearly made investors anxious. The Consumer Products and Services division alone saw an operating loss of $2.8 billion.

"Sony is facing a lot of difficulties and the new president has not been able to produce a clear plan as to how he will turn around the company," Fukoku Capital Management's Yuuki Sakurai told the BBC.

"The little that investors have heard, they are not very impressed with."

The share price currently stands at ¥1,135 on the Tokyo Stock Exchange.

Author

Rachel Weber avatar

Rachel Weber

Senior Editor

Rachel Weber has been with GamesIndustry since 2011 and specialises in news-writing and investigative journalism. She has more than five years of consumer experience, having previously worked for Future Publishing in the UK.

More News

Latest Articles