Sony Corp. said Thursday its profit for the third quarter fell to 10.4 billion yen ($114 million), or about 10 yen a share.
The company said the loss was due to the appreciation of the yen against the dollar and euro and to the deterioration in results at equity affiliates including Sony Ericsson. It also cited losses in its financial services unit. Analysts attributed its loss to weaker demand.
While the results were much lower than the same period last year when the company earned 200 billion yen or 190 yen a share, they surpassed analysts' forecasts. According to Dow Jones Newswires, analysts expected earnings of 180 million yen.
Revenue for the period was 2.15 trillion yen, compared to 2.86 trillion yen in the same period of 2007.
Sony Corp. kept its forecast from earlier in January that it will post its first full-year loss in 14 years.