Sony Mitigates Losses with Strong Mobile Growth in Q2

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SonyAfter starting the year off with a strong fiscal first quarter, it’s evident that Sony still has its work cut out for it. The news isn’t all bad though, as the company posted its earnings for the second quarter on Thursday, reporting that it generated $17.3 billion in revenue, a 13 percent increase compared to last year’s posting. Sony also noted that it produced a $35 million for the quarter, compared to a small net loss last year.

Sony managed to etch out a small profit as the majority of its businesses underperformed. Most of Sony’s endeavors from its gaming operation to Sony’s Pictures business saw their operating profits drop over the course of the quarter. However, among the disappointing statistics there was one glimmer of hope: Sony’s Mobile Products and Communications division, which recorded a 5.9 billion yet profit as compared to last year’s 28.1 billion yen loss.

As Sony preps for the release of its new PlayStation 4 gaming console, the company’s gaming division continues operate at a loss. Last quarter the company noted that its net loss widened from 3.5 billion yen last year to 14.8 billion last quarter. The decline in profits was an amalgamation of softening demand for the company’s current core gaming products and increased R&D expenses for its upcoming endeavors.

Sony’s mobile division performed much better, as the company recorded 9.6 million smartphone sales during the period, up from 7.4 million units last year. Sony expects to sell 42 million smartphones during the fiscal year, up from 33 million in the last year to date.

Finally, Sony’s long-struggling television operation may see an uptick in the future, as the company is expected to see unit sales increase from 13.5 million in the last year to around 16 million.

Source: CNET



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