Sony profits thanks to games and PC sales

29 Oct 2010

Sony has released healthy financial results for the last quarter, reporting 31.1 billion yen net income, compared to a 26.3 billion yen loss last year.

The report shows operating income of 68.7 billion yen, up from an operating loss of 32 billion yen last year.

Sony attributes this improvement, in spite of “unfavourable” foreign exchange rates, on sales of its VAIO PCs and gaming products.

It noted that the cost of producing PlayStation 3 consoles had dropped and sales have increased, observing that hardware and software sales benefited from the introduction of the PlayStation Move.

The Consumer Professional and Device group posted revenues of 16.9 billion yen, though missing analyst estimates for 22 billion yen. TVs didn’t do too well, with Sony having a cautious outlook due to the declining television market in the US. Sony is moving into the direction of connected TVs with Google and 3D TVs.

Music sales were also down, which was attributed to the sales boost after pop star Michael Jackson’s death winding down.

The company cut its full-year sales forecasts from 7.6 trillion yen to 7.4 trillion, due to the strength of the yen.