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Sony expecting $3.1 billion net loss

Sony has revised its forecast for the fiscal year ended March 2011, and it's pretty bad.

Sony has revised its forecast for the fiscal year ended March 2011, and it's pretty bad.

Sony had expected back in February that it would end the year with a healthy 70 billion yen ($850 million) profit. However, following the earthquake and tsunami of March 11, along with the subsequent impact on production, the company is now bracing itself for a loss of 260 billion yen ($3.1 billion).

Sony has also stated that the PlayStation Network data breach will dent this years profits by some $179 million (excluding the cost of any lawsuits).

Sony will announce full-year earnings this Thursday.

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