Thursday, January 22, 2009
Good job Sony doesn’t major in calculators. On Thursday the Japanese electronics and entertainment conglomerate said its annual operating profit forecast – made just three months ago – was out by a whopping $5bn. The new forecast is for an operating loss of nearly $3bn in the year to March. This implies a $3.6bn loss in the fourth quarter, suggesting the company is bleeding about $40m a day. Perhaps they simply got the decimal point in the wrong place. Easily done when you are dealing with millions, billions and trillions! Just as the BBC who regularly make this mistake, reporting billions as millions.