Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
May 22, 2019
arrowPress Releases








If you enjoy reading this site, you might also want to check out these UBM Tech sites:


PSP Helps Lift Sony's Third Quarter Profits

PSP Helps Lift Sony's Third Quarter Profits

January 26, 2006 | By David Jenkins

January 26, 2006 | By David Jenkins
Comments
    Post A Comment
More: Console/PC



After an extended period of disappointing financial results, officials from electronics giant Sony have revealed that profits have risen by 51 percent in the companys third quarter to 226 billion ($1.95bn).

Sales during the important sales quarter were up by 10 percent on the same period in 2004 to 2,368 billion ($20.46bn), with profit up 17.5 percent to 169 billion ($1.46bn) or 161.60 ($1.40) per diluted share.

Officials are now suggesting the company will remain in profit for the full fiscal year to the tune of 70 billion ($608m), a reversal of earlier projections of a loss of 10 billion ($86.9m), and perhaps the most tangible proof yet of a turnaround for the company since a massive restructuring program led by new boss Sir Howard Stringer.

Stringers plans call for 10,000 jobs, 7 percent of Sonys global workforce, to be trimmed by March 31st 2008. The cost-cutting measures are described as going smoothly with 4,500 jobs already having been shed.

Sonys video game division was seen as one of the notable contributors to the improved performance, with sales rising by 48 percent, and operating profit increasing by 52 percent from the same period in 2004, thanks to demand for the PSP console.

In fact, the company claims to have shipped 6.22 million PSP consoles worldwide during the quarter, with cumulative shipments now totaling 15 million although as usual, these figures are well below the number actually sold.

Other particular highlights over the Christmas sales period were the companys range of new Bravia LCD televisions, produced in conjunction with rival Samsung, which gained a number one market share in the U.S. This will be seen as an important victory since many analysts have attributed the companys slowness in moving from older CRT television technology as one of the main reasons for its recent problems.

As a result of the better than expected results, Sony shares closed up 3 percent Thursday at 5,080 ($44).


Related Jobs

Sony PlayStation
Sony PlayStation — San Mateo, California, United States
[05.21.19]

Sr. Manager, Competitive Gaming (North America)
Cold War Game Studios, Inc.
Cold War Game Studios, Inc. — Remote, California, United States
[05.21.19]

Level / Encounter Designer
Insomniac Games
Insomniac Games — Burbank, California, United States
[05.21.19]

User Experience Researcher
Square Enix Co., Ltd.
Square Enix Co., Ltd. — Tokyo, Japan
[05.20.19]

Experienced Game Developer









Loading Comments

loader image