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Sony Figures Surpass Expectations News
Jon Wilcox
30/01/2007
Although the loss in net income at the Game segment is slightly larger than predicted...
Sony Corporation has today revealed its financial figures for the third quarter of fiscal 2006/07, which ended on December 31st 2006. Analysts had been predicting that the company would post a significant drop in net income on the year by as much as 50%, but in the end, the drop was much less, down by just 5.4% from 169.9 billion Yen (£709.6 million) in 2005/06 to 159.9 billion Yen (£667.8 million).
Sales in both Bravia TVs and Cyber-Shot digital cameras, and a weaker Yen, have been at the heart of the reduced loss.
Revenues for the Corporation as a whole in the third quarter increased by over 230 billion Yen (£960.6 million), from 2,375.1 billion Yen (£9.92 billion) in 2005/06 to 2,607.7 billion Yen (£10.89 billion), and also rose in the Game segment from 419.2 billion Yen (£1.75 billion) to 442.8 billion Yen (£1.85 billion), a 5.6% increase on the year. However, operating income for the Game segment fell from 67.8 billion Yen (£283.1 million) in the third quarter of fiscal 2005/06, to an operating loss of 54.2 billion Yen (£226.3 million). The reversal of fortunes is being attributed to price point losses of PlayStation3, and a decline in income from both PlayStation2 and PSP, and is slightly higher than the 50 billion Yen (£208 million) predicted by analysts.
The Corporation has also changed some of its forecasts for the end of the fiscal year on March 31st 2007, with both operating and net income predicted to rise by 20% and 38% respectively.
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Jon Wilcox
03/07/2008
Latest updated removed following reports of the XMB not appea... [ Read full comment... ]
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