clock menu more-arrow no yes

Filed under:

Sony on track for full-year profit despite weakening demand for its products

New, 27 comments

Sony has reported a 46.4 billion yen ($534 million) operating profit in its Q3 2012 figures, compared to a 97.1 billion yen loss from a year ago. That works out to a 10.8 billion yen ($128 million) net loss post-tax, but it's clear that the company is starting to stem the flow somewhat from its disastrous results last year. Sales were up 6.97 percent, helped by a weakening yen, and the company also pointed to its strategy of divesting assets such as the New York headquarters building.

Sales drop for TVs, games, and cameras

The TV, games, and camera divisions all reported decreasing sales, though Sony Mobile appeared as a major plus on the balance sheet since it hadn't been incorporated this time last year. Revenue at the entertainment and financial arms of the company was also up.

Overall, the company sees no reason to change its forecast of a full-year return to profit next quarter; the company expects to make 130 billion yen ($1.4 billion). However, the fall in demand for Sony's core products — it cut forecasts for PSP and PS Vita sales from 10 million to 7 million, for example — must be of concern as it prepares to launch major new devices like the PlayStation 4.