Sony Turns Profit in Q1, Game Division Posts ¥14.8b Loss - News
by William D'Angelo , posted on 01 August 2013 / 10,376 Views
Sony has released its financial report for its first quarter which ended June 30, 2013. Sales have improved year-over-year to ¥1,712.7 billion ($17.3 billion), from ¥1,515.2 billion. Sony was able to turn a profit of ¥3.5 billion ($35 million), compared to a loss of ¥24.6 billion.
Sony's game division reported revenue of ¥117.9 billion ($1.19 billion) which is essentially flat year-over-year. The flat sales were due to the decreases in PlayStation 3 and PSP sales being offset by a more favorable exchange rate.
Despite revenue being flat the operating loss increased to ¥14.8 billion, from ¥3.5 billion. The increased loss was due to the research and development of the Sony's upcoming next generation console the PlayStation 4.
For the full fiscal year which ends March 31, 2014, Sony expects revenue to increase 16.2 percent to ¥7,900 billion compared to ¥6,800 billion the previous year. Profits are expected to increase to ¥50 billion, from ¥43 billion.
Revenue for the game division for the fiscal year are expected to be higher than originally forecasted. However, profits are expected to be lower than originally forecasted, due to the exchange rate.
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PS4 R&D costs are factored in, they'll do much better next quarter
Hurray for profit! Good going Sony, now announce the release date of brazilian PS4, I want to buy it.
alright profit!
Now we should work on the amount of profit.
We're getting there :)
Good to know this time round is not because of one time asset sales. Xperia has performed pretty well. The Z obviously grabbed people's attention.
Was this good or bad thing? I am from finland, so my english is not very good.
Decreases on PS3 sales? Its been selling better than ever!
not sure who gave you the red thumb for this, but yeah ps3s are selling at 100k per week, Dominating the other 7th gen consoles every week.
The decrease in sales is also factored in. Thanks to the current Worldwide contribution, especially Europe where it's the biggest. I guess the decline is to continue as far as 30 percent YOY with PS4 launch phase onwards.
