Sony Losses Decrease for Holiday Quarter, Game Sales Down - News

by William D'Angelo , posted on 07 February 2013 / 4,722 Views

Sony has released its financial report for the quarter ending December 31, 2013. Sony as a whole improved by quite a bit year-over-year. Revenue for quarter increased 6.9 percent to 1.95 trillion Yen ($21 billion). Losses dropped by to 10.8 billion Yen ($115 million), much lower than the 159 billion Yen in losses a year ago.

Despite the company moving in the right direction the game division saw lower revenue and profits. Mainly due to the decrease in hardware and software sales. Revenue for the quarter dropped 15 percent to 268.5 billion Yen ($2.9 billion), from 316.1 billion Yen. Profits fell 86 percent from 33.8 billion Yen a year ago to 4.6 billion Yen ($49 million).

Combined sales of the PlayStation 2 and PlayStation 3 reached 6.8 million, which is down from 7.4 million. However, Sony did stop production of the PlayStation 2 in at the end of quarter. Sony still expects combined sales of 16 million units for the full fiscal year which ends March 31, 2013. This would be a two million drop when compared to the previous year. Retail game sales dropped to 61.7 million units, from 68.7 million units a year ago.

Sony also combined its PSP and PlayStation Vita sales. Sales increased to 2.7 million units, up from 2.4 million units a year ago. However this is not what Sony had hoped for, as it cut its full year forecast to seven million units, down from 10 million units. Retail game sales dropped to 8.9 million units, from 11.4 million units a year ago.

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Ganoncrotch (on 07 February 2013)

is this big increase in revenue to do with Sony selling their US offices for 1.2billion? I mean I know it's just turning their assets into Revenue which is just a different portion of the same profit/loss account but still would love to know if they just sold that building and added the cash from it in as revenue from sales.

SangheliZealotX (on 07 February 2013)

Ya, this probably only looks good for sony because they sold that building, there's only so many hq buildings they can sell, I don't
think this is a sign of recovery.

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czecherychestnut (on 10 February 2013)

Nope, the sale of 550 Madison Avenue will be reflected in the next quarters results, as the sale was finalised on the 17 Jan 13 but the Q2 results are for the period 01 Oct 12 - 31 Dec 12.

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nnodley (on 08 February 2013)

Isn't Sony's selling of their building suppose to reflect in their next quarter not this one?

z101 (on 08 February 2013)

I don't think that Sony can get the turn around. This company will be history in 1 or two years. They made big losses since 7(!) years!

SwansVanTerif (on 08 February 2013)

Not horrible, but Sony needs to turn some profit soon.

Ljink96 (on 08 February 2013)

How come this isn't all over the news like white on rice? Why aren't there millions of Doomed Sony posts? Because if my memory serves correct $49 million profits are less than $300 million.

MARCUSDJACKSON (on 07 February 2013)

well all the drops can be attributed to no big exclusives releasing for the system.