Sony doubles full-year profit forecasts to 40 billion yen

lol

source

gaf

After years of reporting on Sonys slumping sales, it looks like the company may finally be on the ascension. Games Industry.biz notes that the Japanese conglomerate has doubled its profit forecast for the fiscal year that ended on 31st March, raising the tally from ¥20 billion ($201m) to ¥40 billion ($403m). Thats a pretty substantial increase.

The improvement is due to the depreciation of the yen, and stronger than expected performance in its financial services division. The company has also upgraded its operating income from ¥130 billion to ¥230 billion, following the sale of its M3 shares, and Tokyo and North American headquarters.

The firms full-year financials will be released on 9th May, and may be accompanied by much fist-pumping from new CEO and Ridge Racer fan Kaz Hirai.

They got their hands on a 720 pizzabox.

.

[QUOTE="Newhopes"]

Sold some more of there Buildings?

Shewgenja

Nope PS3 sales are down YOY most of this comes from selling assests, $2.2 billion from buildings and $440 million from DeNA shares thats just what I know about they where selling other things like $800 million in M3 shares as well but don't know if those sales have gone though yet.

Just to put it into perspective $1= roughly 100 Yen.

pizzabox.

KungfuKitten

great news :)

Excellent news! hope their forecasts are correct though

Excellent news! hope their forecasts are correct though

EPaul

Isn't most of the profit coming from the selling both their head quarters? What happens if the reactions they are getting from ps4 does not equal the sells the want? I really hope they know what they are doing from here on out.WllDan7

Still doomed though

We're back in business baby.

"bu bu but Sony is doomed" :lol:

Its good to see Sony making some good profits.

Isn't most of the profit coming from the selling both their head quarters?WllDan7

Sold some more of there Buildings?

Sold some more of there Buildings?

Newhopes

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Not sure how much this means long term.Sushiglutton

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Wasdie

Does $400 million make up for previous years losses?  Either way good for Sony. 

the best thing for sony as a company would be to let the playstation brand go. from what i understand, the ps brand is losing money.

[QUOTE="GamingGod999"]

[QUOTE="Zaibach"]The Xperia range is doing well or so I have heard.

Zaibach

But my iPhone is satisfying enough (for now). :P

the best thing for sony as a company would be to let the playstation brand go. from what i understand, the ps brand is losing money.

AD216

[QUOTE="Wasdie"]

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

jsmoke03

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

Good for them if the forecasts are true...I do question why they were so off on their projections. In the past when numbers "double" its a strategy to lure in investors. Then not meet their "expectations" when year end numbers come down from the CPA...They are trending up nicely from November. I bought in 500 shares in November @ 9.76 per share. Today its around 17.55 per share..While that's great....its still far cry from the AVE +32 per share Sony is used to seeing. 

Time will tell...

[QUOTE="AD216"]

the best thing for sony as a company would be to let the playstation brand go. from what i understand, the ps brand is losing money.

Microsoft1234

[QUOTE="jsmoke03"][QUOTE="Wasdie"]

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Wasdie

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

Sounds like Kaz is a much better ceo than ol' ken.

Sounds like Kaz is a much better ceo than ol' ken.

call_of_duty_10

[QUOTE="Wasdie"]

[QUOTE="jsmoke03"] agreed but i think they still have a long way to go. they need to let go of the camera's in the u.s. region imo and they cut out a lot of their failing businessAD216

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

[QUOTE="jsmoke03"][QUOTE="Wasdie"]

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Wasdie

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

Xperia was'nt doing that bad last I checked and it's competetive, at least in terms of quality.

I'm sure they're pleased with a 100% increase in forecasted profits before inflation.

How's the Yen doing? 

the best thing for sony as a company would be to let the playstation brand go. from what i understand, the ps brand is losing money.

AD216

The playstation brand is one of their biggest money makers.

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Wasdie

Sold some more of there Buildings?

Newhopes

No they found out what the Pizzabox 720 is like. 

[QUOTE="AD216"]

the best thing for sony as a company would be to let the playstation brand go. from what i understand, the ps brand is losing money.

mysticstryk

The playstation brand is one of their biggest money makers.

[QUOTE="Newhopes"]

Sold some more of there Buildings?

clr84651

No they found out what the Pizzabox 720 is like. 

With how irrelevant Sony are becoming it's only natural for you too fear the mighty Pizzabox.

[QUOTE="jsmoke03"][QUOTE="Wasdie"]

That's what happens when you the bloat, slim down, reorganize, and head in a strong direction. Sony was simply not focusing on its strengths and trying to be too diverse for its own good. The leaders recognized that and have been cutting the fat. 

Wasdie

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

[QUOTE="Wasdie"]

[QUOTE="jsmoke03"] agreed but i think they still have a long way to go. they need to let go of the camera's in the u.s. region imo and they cut out a lot of their failing businessDarkLink77

They need to let go of phones too. They need to focus on their TV line and their entertainment lines. 

"bu bu but Sony is doomed" :lol:Its good to see Sony making some good profits.Karpetburnz

So they would have posted a loss if not for the office buildings they sold + shares in M3 they sold and the weaker yen. Thank you Kaz.

[QUOTE="call_of_duty_10"]

Sounds like Kaz is a much better ceo than ol' ken.

FireEmblem74

[QUOTE="AD216"][QUOTE="Wasdie"]

They need to let go of phones too. They need to focus on their TV line and their entertainment lines.

Zaibach