Sony returns to profit in Q2 despite game division losses

Compiled from the Wall Street Journal, Bloomberg, Reuters, AP, CNN Money, and other news sources:

Sony said Thursday (Oct. 25) it returned to the black in its fiscal second-quarter (July-September) thanks to a weak yen and higher sales of its digital cameras. As a result, the company has revised up its forecast for the fiscal year ending March.

Sony's operating profit up to ¥90.5 billion (US$790 million; €556 million) from an operating loss of ¥20.8 billion ($182 million; €128 million) the year before. Revenue up 12.3 percent to ¥2.08 trillion (US$18.2 billion; €12.8 billion), led by brisk sales of Cyber-shot digital cameras, Vaio PCs and Bravia LCD TVs. Net profit surged to ¥73.7 billion (US$643 million; €453 million) from ¥1.7 billion (US$15 million; €10 million) a year earlier.

As for Sony's game division and PS3: the division incurred an operating loss of ¥96.7 billion (US$844 million; €593 million), up from the loss of ¥43.5 billion (US$380 million; €267 million) the previous year. Including the operating loss it sustained in the second quarter, the game division already made operating losses of nearly ¥125 billion (US$1.1 billion; €798 million) since the start of the current fiscal year in March. Sony delivered 1.31 million PS3 consoles in the second quarter, up from 710,000 units in the first quarter.

The original and alternative sources report include other data including numbers for Sony's movie and financial service businesses.

Read Full Story >>
The story is too old to be commented.
felman874009d ago

Weren't people saying something about Sony going bankrupt a year ago?

supermandead6664009d ago

The pplz who said that tend to be the blind xbots or retarded in general.

BIGBAER4009d ago (Edited 4009d ago )

BUT, Sony was able to secure a $500,000,000 loan to remain solvent.

This fiscal quarte Sony showed profit even thogh its game division did not.

Things ARE getting better however:

@Shmee below...

Wrong. Sony has faced multiple problems in the last few years (rootkit anyone?) which have worried investors and hurt earnings. Sony was forced to borrow money to assuage suppliers and shore up operations. Wall Street investment houses had Sony on a "sell" list for quite sometime.

Only foreigners buy from Amazon Japan? WRONG! Anyone who takes time to read the posted reviews of any item on the Amazon Japan's TOP 100 Video Game list will find virtually all reviews submitted by Japanese gamers. Times ARE changing!

shmee4009d ago (Edited 4009d ago )

You are bringing up Amazon Japan sales charts which is used by foreigners only in Japan . NO one purchases x360 in Japan except the foreigners living there .

lol.........x360 is the least selling console in Japan and you can easily see that the chart doesnt have wii/ds/psp --which outgun x360 20:1 on weekly basis.

even the ps3 outsells x360 3:1 /10:1 every week in JAPAN.

SONY never acquired 500 b yen . The most they acquired was 1.3 B $ . However SONY's asset is like 100B compared to 62B for MS

x360 sales have dropped below 3000 this week in Japan. wait for the mediacrate hardware sales tonight.

Net operating income of SONY increased multiple folds and thats what counts.
SONY's total assets also increased by 2 billion dollars.

However the fiscal as the end of this year could look real juicy for SONY. PS3 sales have gained steam in Europe and surely with the white ps3 , 40 gig and a price cut expect ps3 to do very well this XMAS.

NOTE :- ps3 sold around 200 000 consoles per month in Europe even at a very high price point. with the price slashed by 100/200 Europe you can easily expect Europe to become SONYLAND again

THUNDERMARE4009d ago (Edited 4009d ago )

Bigbear I disagree about Sony facing any solvent situation, this fiscal year Sony did acquire some lone but it will be use largely on financing the cheaper version of PS3, not to make itself solvent.

Although last year Sony game division got hit with $100 billion lost, the Sony corporate overall still earn 109 million in income after tax.

And if you look at 3 years ratio, Sony quick and current ratio are hovering around 0.96 to 1.21 in the past 3 years, Sony is actually pretty liquid for it size.

Just loot at income after tax, Sony never actually go where near bankruptcy.

+ Show (1) more replyLast reply 4009d ago
IntelligentAj4009d ago

This news that I like to see!!! Confirmed from business sites and good financial health for the company. It's great because if Sony's other divisions keep carrying the company, the PS3 has a little more time develop without eating all the comany's profit, which in turn is great because it keeps this a 3 way competition which is great for us gamers.

Korosuke4009d ago (Edited 4009d ago )

I watched Q2 result conference streaming at sony's web site.
In Q&A section about their gaming was just awful.
They couldn't indicate any strict plan but saying if softwares coming up, it may be getting better......

BIGBAER4009d ago

Take a look at Amazon Japan's TOP 100 Video Games list for something many thought would NEVER happen:

Freaking AMAZING!

shmee4009d ago

not indicative of sales in JAPAN

only used by foreigners to buy consoles online in JP

in reality AC 6 wont even make it to the top 5.

x360 sold 3k consoles this week in Japan vs 12k for ps3.

watch out for the MEDIACRATE figures tonight.

stop dreaming .

It is over for x360 in JAPAN and EU (in JAPAN it never toook off actually)

BIGBAER4009d ago (Edited 4009d ago )

Amazon Japan DOES indicate sales in Japan. Where do you think they register? Romania? No, they REGISTER IN JAPAN! Granted, Amazon Japan is only one indicator of sales---but! it IS an indicator nonetheless.

To think that "only foreigners" buy from Amazon Japan is both assinine and naive.

DreamSnach24009d ago

360 has a good line up in japan, more game I ever seen then ps3! and its not the end of the 360 in japan its just geting started

Show all comments (15)