Sony Profits Plunges 50% (Yahoo Finance Article)

[mvp31]

[I can't post the URL since the forum won't let newbies post URLs]

TOKYO (AP) -- Sony Corp. said Tuesday its April-June profit plunged to 34.98 billion yen ($326.9 million) -- about half that recorded a year ago -- as a strong yen, the absence of "Spider-Man 3" revenue and faltering results at its cell phone operations battered earnings.

...

In a bit of bright news, the Tokyo-based manufacturer marked a continued recovery in its long struggling video game section, which was profitable in the latest quarter in contrast to losses the previous year.

Sony sold 1.56 million PlayStation 3 machines in April-June, more than double the 700,000 machines sold the same period a year ago. It kept unchanged its forecast for selling 10 million PS3 consoles the fiscal year through March 2009.

[Geonosis]

Here you go http://biz.yahoo.com/ap/080729/japan_earns_sony.html lol

[zombieflanders]

Full article:

TOKYO — Sony has reported a sharp drop in profits for the first quarter of fiscal 2008, in results announced on Tuesday in Tokyo.

Net profit plunged 47% to $325.2 million, while operating profit declined 39% to $683 million. This is the company's first reported profit fall in five quarters. Consolidated sales inched up 0.1% to $18.4 billion, with the help of higher sales for Bravia LCD sets. On a local currency basis, however, the rise was 8%.

A strengthening yen, losses at mobile phone maker Sony Ericsson, sharper competition for its Cyber-shot digital cameras and Handy-cam video cameras and price cuts on Sony's Vaio PCs all sliced into profitability.

Meanwhile, Sony's Game division reported a 16.8% year-on climb in sales, to $2.135 billion, boosted by big gains in worldwide PlayStation Portable and PlayStation 3 hardware and software sales. Sony sold 3.72 million PSP's, for a rise of 1.59 million units over the same period the previous year, and 1.56 million PS3s, for an increase of 0.86 million units — more than double the 700,000 total of 1Q 2007.

Meanwhile, PSP software moved 11.8 million units, for a gain of 2 million, and PS3 software, 22.3 million units — or a stupendous 18.1 million improvement over the same period last year.

The PlayStation 2 continued its slow slide into oblivion, with hardware sales down 1.15 million units to 1.51 million and software sales decreasing 11.8 million units to 19.3 million.

The stronger performance of the PS3 business, caused by cost reductions and brisker hardware and software sales, contributed to a rise in Game division operating profit, to $50.2 million. This compares with an operating loss of $272 million recorded in the same quarter last year.

The picture for the Pictures division was not so rosy, however, with a 31% year-on drop in sales to $1.506 billion. Operating profit also plummeted $78 million into minus territory. SPE was unable to come up with a blockbuster to match "SpiderMan 3," which gave the bottom line a huge boost in the same quarter last year. Also, higher pic market expenses cut into profits. One bright spot on the television side was higher ad revenue from international strands.

Sony has revised down its net profit forecast for fiscal 2008, ending in March 2009, from its May figure of $2.69 billion to $2.23 billion. It has also dialed down its FY 2008 operating profit outlook from $4.83 billion in May to $4.37 billion, citing a tough biz environment for electronics sales, off-setting a depreciating yen.

http://www.variety.com/article/VR111...goryid=13&cs=1

Note that this is a fall in profits, not loss of money. "Profit" still means net gain. Also note that the games division is profitable, despite the naysayers.

[bt12483]

Originally Posted by Geonosis

Here you go http://biz.yahoo.com/ap/080729/japan_earns_sony.html lol

Shouldn't this be in the Sales Data SD thread?

[michealo]

slow news day....

[Geonosis]

Originally Posted by bt12483

Shouldn't this be in the Sales Data SD thread?

I didn't even notice, thanks. I'm surprised you didn't notice that the "BD spending north of $200 million, up about 300%" topic was in the wrong section, since you posted in that lol. Another mod just took care of that.

[vinnie97]

Originally Posted by zombieflanders

Full article:http://www.variety.com/article/VR111...goryid=13&cs=1

Note that this is a fall in profits, not loss of money. "Profit" still means net gain. Also note that the games division is profitable, despite the naysayers.

Some folks posting here are seemingly paid by Toshiba but I sometimes wonder about you and Sony.