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SNE< Sony 3Q Loss Narrows From Year-Earlier

Sony's fiscal 3Q loss narrowed from a year earlier as it made progress in turning around its troubled TV business and benefited from steady profits at its financial arm.

: FQ3 net loss ¥10.8B ($115M) vs ¥159B a year earlier and consensus for profit of ¥21B, with the company recording its eighth quarterly loss in a row. Swings to operating profit of ¥46.4B from loss of ¥91.7B but below forecasts of ¥72.1B. Revenue +6.9% to ¥1.95T. Despite the net loss, Sony reiterates FY guidance for net income of ¥20B, which would be its first profitable year in five.