Sony quarterly revenues up, still endures $124M net loss
updated 10:23 am EST, Thu February 7, 2013
Results show 94.4 percent improvements in mobile, communications business
Sony has made improvements in its finances, according to the company's latest quarterly report. The fourth quarter of 2012 saw revenues hit $22.4 billion, an increase of 6.9 percent from the same period last year, and while it endured a net loss of $124 million, it is a vast change from last year's $1.7 billion loss, and a continuation of its financial restructuring from Q2 results.
Sony's Pictures division increased it's revenue by 30 percent, with its Financial Services section rising 21 percent and Music up 2.4 percent. While it's Mobile Products and Communications business managed to increase its sales and operating revenue by 94.4 percent, it's Devices and Home Entertainment & Sound divisions dropped 6.8 percent and 17.9 percent respectively, with a drop in overall sales being cited.
Gaming has also seen a loss of sales, down 15.1 percent year-on-year, with relaxed sales on the PlayStation 3 and PSP being partially offset by PlayStation Vita sales. The 6.8 million sales figure may go down further in the future, as Sony is expected to announce it's next console at a special event on February 20th.
The outlook for the full fiscal year, ending March 31st, remains largely unchanged, with the company expecting to earn itself a net profit of 20 billion yen ($213 million), up from the massive 456.7 billion yen ($6.4 billion at the time) loss from March 2012.
