Sony Posts Financial Results For Second Quarter

by on October 31, 2013

Sony Corporation has posted their latest quarterly and half-yearly financial report which shows an $8 million loss to its gaming business. The 30 page document, available here, covers the last 3/6 months, ending September 31st. Year on year, the company counted profits of $23.4 million in the same quarter 2012.

Sales increased 5.1% from $1.5 billion to $1.6 billion year on year, but when putting the failing Yen on par with the stronger Dollar and Euro, this still translates into a 14% decrease.

The report states the drop is due to a decrease in unit sales of PS2, PS3 and PSP, but that it is partially offset by an increase in PS3 software sales. Of the $8 million loss in revenue, the report points to the impact of the strategic price reduction of the PS Vita.

An increase in PS4 R&D has also had big impact in the report but no specific figures are mentioned. However, restructuring charges in the Games division, mentioned later in the report, lists a huge 288% increase to 3.8 million in the last 3 months.

The report also reveals Sony has cut its full year forecast from $50 million down to $30 million, a decrease of 40%. With the PS4 release less than a month away, it will be interesting to see how the console performs and what effect it will have on the next quarter.