Sony quarterly net profit falls 8%

Japanese electronics giant Sony reported an 8.6 % slide in quarterly profit today, blaming the weakness on its LCD television unit, and cautiously maintained an earlier annual profit forecast.

Japanese electronics giant Sony reported an 8.6 % slide in quarterly profit on Thursday, blaming the weakness on its LCD television unit, and cautiously maintained an earlier annual profit forecast.

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Sony reported a net profit of 72.3 billion yen for the fiscal third quarter ended December, or $893 million based on Sony's average exchange rate for the period, which beat analysts expectations of a 66 billion yen profit.

But it was below the 79.2 billion yen posted in the same period a year earlier.

The company also maintained its profit forecast for the year at 70 billion yen.