News

Sony Second Quarter Financal Results Mixed

| 25 Oct 2007 19:40

Financial reports for the second fiscal quarter of this year have come in for Sony, showing mixed results.

While it produced an operating profit of $787 million during the quarter - an improvement from a loss of $182 million last year - the games division's losses also doubled.

Revenues mushroomed 43 percent to $2.1 billion, but that performance was somewhat marred by the operating loss of $841 million, more than double last year.

Sony said the loss occurred because of "the strategic pricing of PS3 at points lower than its production cost and the increase in PS3-related inventory write-downs recorded during the current quarter compared to the same quarter of the previous year."

The PSP, meanwhile, moved more than 500,000 units this quarter, though at the same time, software sales have dipped 5 percent.

Source:Gamesindustry.biz

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