Sony loses $312 million in Q1 2012

Source: TheVerge

Sony has announced its financial results for the first quarter of its fiscal year, and as expected for a company in transition they don't make for pleasant reading-- it managed to lose $312 million off sales of $19.2 billion. Sony actually increased its sales year-on-year by 1.4 percent, attributed to the consolidation of Sony Mobile, but $143 million in restructuring costs caused operating income to slide from $270 million to $79 million. Together with the high yen and unstable situation in Europe, the company has downgraded its operating profit forecast for the year from $2.29 billion to $1.66 billion.

The company's few profitable areas right now are its imaging, components, and music businesses, while the gaming, home entertainment, and mobile divisions are all making losses. The games division in particular was disappointing, with sales falling 14.5 percent and the PS Vita not doing much to stop the business slip into the red. However, despite a decline in sales the TV business is actually bleeding less money than this time last year, likely due to efforts Sony is making to streamline the category. The imaging division, too, is one of the company's recent success stories with high-end cameras contributing to profits of $160 million. The company says it is "proceeding steadily with efforts to transform our business structure," but shareholders will no doubt have to be patient.

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Ouch. Looks like Hirai's forecast of Sony turning a profit this year might not be true...

Sony is doooooooooooomed!!!

Things are not looking good, I hope they recover ...

so without looking at the total figure in loses it seems Sony is making the right moves

So they are on the right track.

And yet...more exclusives keep on coming. Let the jelly begin. :cool:ispeakfact

I hate to hear them losing that much. Hope they come back and come back strong.

Don't understand why they don't just cut their losses and ditch the parts of the company that is clearly bleeding money, **** the TV section focus on the things your good at. Their whole company needs a complete turn over, I mean seriously who the hell manages their marketing team ?

That can't be true, I sent them a check for $21.61 a month ago.

I know it went through because a Mr. Cesar Sony from CA cashed the check. I hope he reports that to TheVerge.

Sony, going out of business since 2005:D

That's why I think Kaz Hirai promotion is a good thing, the previous CEO was making all the wrong moves.

Don't understand why they don't just cut their losses and ditch the parts of the company that is clearly bleeding money, **** the TV section focus on the things your good at. Their whole company needs a complete turn over, I mean seriously who the hell manages their marketing team ?

Blake135

Sony should take advice from the SW posters!j_assassin

so they're losses are decreasing? what did they lose last quarter?

eh not that bad

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year

BPoole96

And yet...more exclusives keep on coming. Let the jelly begin. :cool:ispeakfact

more? judging by the PS3's exclusives in 2012 I think you mean less

[QUOTE="ispeakfact"]And yet...more exclusives keep on coming. Let the jelly begin. :cool:rilpas

more? judging by the PS3's exclusives in 2012 I think you mean less

[QUOTE="rilpas"]

[QUOTE="ispeakfact"]And yet...more exclusives keep on coming. Let the jelly begin. :cool:DrewMcintyre619

more? judging by the PS3's exclusives in 2012 I think you mean less

what does it have confirmed for 2013?

[QUOTE="DrewMcintyre619"][QUOTE="rilpas"]

more? judging by the PS3's exclusives in 2012 I think you mean less

rilpas

what does it have confirmed for 2013?

[QUOTE="rilpas"]

[QUOTE="DrewMcintyre619"] did he say 2012? if you count 2013 sony has many more...DrewMcintyre619

what does it have confirmed for 2013?

three games for 2013? not a very impressive list

specially considering how 2012 so far has been the weakest year the PS3 has ever had

so I guess I stand by my statement, judging by 2012 and 2013 sony is already skimping on the games

I hate to say it, but... isnt this good news?

I think this applies here.

[QUOTE="DrewMcintyre619"][QUOTE="rilpas"]

what does it have confirmed for 2013?

rilpas

three games for 2013? not a very impressive list

specially considering how 2012 so far has been the weakest year the PS3 has ever had

so I guess I stand by my statement, judging by 2012 and 2013 sony is already skimping on the games

[QUOTE="BPoole96"]

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year

DrewMcintyre619

MS actually has more first party studios than Sony does now. Source

There really is no excuse for MS to give their userbase these insane droughts of no exclusives every year.

[QUOTE="rilpas"]

[QUOTE="DrewMcintyre619"] last of us beyond to souls god of war then if you combine it with the 2012 list you got Playstation all stars Little big planet karting Dust 514 Sly Cooper - theives in time and well i forgot the rest, i'm a nintendo fanDrewMcintyre619

three games for 2013? not a very impressive list

specially considering how 2012 so far has been the weakest year the PS3 has ever had

so I guess I stand by my statement, judging by 2012 and 2013 sony is already skimping on the games

at this point even the 3DO is better then 360's 2013 line-up

but that doesn't mean the PS3's line-up is good

in fact, so far it looks terrible

[QUOTE="DrewMcintyre619"][QUOTE="rilpas"]

what does it have confirmed for 2013?

rilpas

three games for 2013? not a very impressive list

specially considering how 2012 so far has been the weakest year the PS3 has ever had

so I guess I stand by my statement, judging by 2012 and 2013 sony is already skimping on the games

[QUOTE="DrewMcintyre619"][QUOTE="BPoole96"]

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year

BPoole96

MS actually has more first party studios than Sony does now. Source

There really is no excuse for MS to give their userbase these insane droughts of no exclusives every year.

[QUOTE="BPoole96"]

[QUOTE="DrewMcintyre619"] Sony has many more divisions then microsoft, and they also gross so much more money, but when you're grossing so much money and you're not succeeding it can look bad, sony actually make's more money then microsoft, they just don't make any revenueSecretPolice

MS actually has more first party studios than Sony does now. Source

There really is no excuse for MS to give their userbase these insane droughts of no exclusives every year.

[QUOTE="SecretPolice"]

[QUOTE="BPoole96"]

MS actually has more first party studios than Sony does now. Source

There really is no excuse for MS to give their userbase these insane droughts of no exclusives every year.

DrewMcintyre619

Anyhoo, Forza is widely recognized as the finest driver on consoles and this new one is the First FM to go open world so expect every car nut on 360 to pick up a copy - I know it's my 2nd most anticipated game only behind H4. :P

[QUOTE="DrewMcintyre619"][QUOTE="SecretPolice"]Firstly, two of the highest profile exclusives coming this year are on 360 :shock: Halo 4 & Forza Horizon also, I have no doubt that the exclusives being dev'ed for the last year or more are for the next gen MS console so unlike the PS3 launch with hardly any games worht playing at launch the next X will likely have a stellar line up of games for it's launch. Besides, you rarely here a 360 fan complain they haven't enough games to play cause we all know the awesome multiplats can't hardly be kept up with as it is unless you do nothing but game 24/7. :P

SecretPolice

Anyhoo, Forza is widely recognized as the finest driver on consoles and this new one is the First FM to go open world so expect every car nut on 360 to pick up a copy - I know it's my 2nd most anticipated game only behind H4. :P

[QUOTE="SecretPolice"]

[QUOTE="DrewMcintyre619"] forza is by anymeans not high profile, it's critically acclaimed, but commercially it's far off, plus with need for speed coming out "which is a bigger ip" forza will be the lost in the shuffle it will be a bigger commercial flop then all starsDrewMcintyre619

Anyhoo, Forza is widely recognized as the finest driver on consoles and this new one is the First FM to go open world so expect every car nut on 360 to pick up a copy - I know it's my 2nd most anticipated game only behind H4. :P

Oh and by the way, OT, that loss stinks for Sony so heres hoping things get better.

[QUOTE="DrewMcintyre619"][QUOTE="SecretPolice"]Eh, opinions be like that... wrong that is. :twisted:

Anyhoo, Forza is widely recognized as the finest driver on consoles and this new one is the First FM to go open world so expect every car nut on 360 to pick up a copy - I know it's my 2nd most anticipated game only behind H4. :P

SecretPolice

Oh and by the way, OT, that loss stinks for Sony so heres hoping things get better.

They are on the right track just need to trim some fat

so they're losses are decreasing? what did they lose last quarter?

painguy1

Actually Q1 2011 for Sony was profitable I think. So a step in the wrong direction, year over year wise.

"Sonys Q1 FY2011 operating income is ¥27.5 billion ($240m)"

http://www.thesixthaxis.com/2011/07/28/sony-q1-financials-not-pretty/

And yet...more exclusives keep on coming. Let the jelly begin. :cool:ispeakfact

Sony should have NEVER created the Cell. The Cell was the worst decision ever.

Blu-ray is the second worst decision. The fact is digital distribution is the future so a HD disc was pointless. If Sony didn't put the Cell or Blu-ray in the PS3 they could've sold it far cheaper and released it around the time the 360 was released instead of a year late.

I just mentioned the bad decisions with the Playstation; overall Sony is making bad decisions.

yeah its going to take time for sony to get out of this situation but at least they are improving.

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year

[QUOTE="ispeakfact"]And yet...more exclusives keep on coming. Let the jelly begin. :cool:TheEroica

Strange how Sony bleeds money yet still puts out plenty of games. Its amazing how MS makes money but can only manage 1 or 2 core exclusives each year