TOKYO — Japanese electronics and entertainment company Sony Corp. is reporting a dive in quarterly profit as the coronavirus pandemic delayed music and movie releases and disrupted product supply chains.
Tokyo-based Sony reported Wednesday that its January-March profit crashed 86% to $118 million.
The spread of COVID-19 has crimped consumer spending, shut movie theaters, canceled events and sent share prices tumbling - all damaging for a company with sprawling businesses like Sony.
Quarterly sales and operating revenue fell a combined 18%.
Sony did not give forecasts for the fiscal year through March 2021, citing uncertainties with the outbreak.
It said projections will be released as soon as possible.