Sony Pictures

Sony records 84 pct quarterly profit drop on movie loss

Japanese electronics and entertainment company Sony Corp. reported Thursday an 84 percent profit drop in October-December, as losses in its movie division offset healthy results in its video game business.

Tokyo-based Sony, which makes the PlayStation 4 game machine and Bravia TVs, reported a fiscal third quarter profit of 19.6 billion yen ($174 million), down from 120.1 billion yen the previous year.

Quarterly sales slipped 7 percent to 2.4 trillion yen ($21.3 billion), mainly because of unfavorable foreign exchange rates, the company said Thursday.

Sony also lowered its full year fiscal profit forecast because of a $962 million write-down in its film division,...