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Sony cuts Q2 2012 losses to $198 million, bumps revenue to $20.6 billion thanks to mobile

Engadget: Sony is projecting a slight drop in revenue for its fiscal year ending in March 2013, from $85 to $83 billion compared to August's forecast. But the company kept its operating income projection unchanged at $1.6 billion -- thanks to new acquisitions like cloud gamer Gaikai and Olympus, along with such products as the new 84-inch 4K LCD TV and revised PS3 gaming console.

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Blankman851871d ago (Edited 1871d ago )

Thanx to the mobile division which still lost close to $300 million? On top of the $350 million it already lost last quarter? How is that a success?
Why is this story not focusing on the gaming business which made a profit? At least tell us how much of a profit instead of just tossing it in there with music and movies as if it didn't matter.
This is their 7th straight loss, you gotta wonder how long they can keep this up.

Silly gameAr1871d ago

Gotta love the N4G financial analysts we have around here.

Cam9771871d ago

Yup. Without them, I don't know how I would survive against this barrage of false information.

JoGam1871d ago (Edited 1871d ago )

Thanks dude...You just made me spill my coffee on my Vaio! LOL

BattleAxe1871d ago

^^^

I'm laughing so hard right now, while viewing these comments on my 46" Bravia through my PS3's web browser :D

Knushwood Butt1870d ago

Yeah, quick, give this man a job before he gets headhunted!

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Jazz41081871d ago (Edited 1871d ago )

According to the verge sonys gaming was down 16 percent as well as revenue but they did manager a very meager profit as in using there words. If you add the first qtr gaming loss and the second qtr meager gain Sonys gaming division as a whole is still in the loss column for 2012. As far as phones connecting to consoles ms windows phone have been doing that for a while now and with wind 8 its only getting better.

gaffyh1871d ago

Apparently that is mainly due to a strong Yen.

XabiDaChosenOne1871d ago

@Ndivhu *rolls eyes, Keep it moving son.

Jihaad_cpt1871d ago (Edited 1871d ago )

I have a question did the American economy go from recession to "expansion" instantly?

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Neonridr1871d ago

very strange. I mean sure their numbers aren't as bad as the previous quarter, but they are also talking about how many jobs they had to cut. When you cut 10,000 jobs you save a lot in salary payouts. But when you have to say that you are cutting that many jobs this year, and you are still losing money while stretching your divisions thin, that's not a good thing.

Also I don't think the 84" 4K LCD TV did much for them at this point. Nobody can afford the $25K price tag for that, so I don't even know why I was in the article.

I have a Sony TV and home theatre system, so I do appreciate the quality they bring to the table for the most part, however with them continually losing money, you have to wonder where that is going to put them when the PS4 comes along.

It's hard to believe a company that continues to bleed money is going to want to sell their new console at a loss, but it will also be hard to fathom launching another $600 console ala the PS3.

nukeitall1871d ago

I know, it seems things hasn't improved at all.

Considering a cut of 10,000 jobs, you should save 10,000 * monthly salary * 3 months (for the quarther). That is easily $100 million plus per quarter, but now you lost productivity.

Cost cutting is good, but what is Sony doing to increase sales and demand for their products?

Captain Tuttle1871d ago (Edited 1871d ago )

Well they're spending money, they picked up Gaikai and launched the Vita. The return on the former remains to be seen and the return on the latter is fairly dismal, I'd guess.

1871d ago Replies(1)
1871d ago Replies(1)
seanpitt231871d ago (Edited 1871d ago )

So happy for sony they deserve to do well

Swiggins1871d ago

No no...let him figure it out himself...

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