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Sony PlayStation revenues flat, Y-o-Y, thanks to currency shift

Sony PlayStation revenues flat, Y-o-Y, thanks to currency shift

Thu 01 Aug 2013 6:15am GMT / 2:15am EDT / 11:15pm PDT
HardwarePublishingFinancial

Q1 Games sales at $1.2bn, but operating losses up 322% to $149m

Sony's games business has maintained a flat revenue, year-on-year, despite shrinking sales of hardware and software, and increased R&D costs related to PS4. Sony has largely attributed the level figures to improving exchange rates against the Yen as market values of both the Euro and the Dollar has risen substantially over the last year.

For the quarter ending June 30, 2013, Sony's games arm booked 117.9 (1.2bn) billion in sales, compared to 118 ($1.2bn) billion in the same quarter last year. However, increased costs associated with PS4 meant that operating income for the sector plummeted by 322 per cent to a loss of 14.8 billion ($149m) from last year's 3.5 billion. This comparative loss was exacerbated by a windfall related to the reversal of a Blu-Ray patent case in Q1 2012.

PlayStation 3, 2 and PSP sales are all quoted as being down, but the Vita isn't mentioned anywhere in the report. For the financial year, ending March 31, 2014, Sony expects the games business' sales to be up considerably, whilst operating income drops thanks to promotional efforts and launch costs for the PS4.

As a whole, Sony's business showed improvements, again thanks to currency shifts, but also seeing a marked improvement in smartphone sales and continued strong performance of financial services. Total revenues were up 13 per cent year-on-year to 1712.7 billion ($17.3bn). Operating income across the company increased by 30.1 billion to 36.4 billion ($367m). Part of this increase is attributed to the sale of the Sony Pictures Entertainment music catalogue, at $106 million.

3 Comments

Aleksi Ranta Product Manager - Hardware

275 127 0.5
Was it during this reported quarter that sony finalized the property sales of its chemical-products making unit and sale of the New York building? If so and factoring that out, then the business is till heavily in the red. Asset sales are not done on this scale every quarter.

Posted:A year ago

#1

Nicholas Pantazis Senior Editor, VGChartz Ltd

1,020 1,467 1.4
Pretty scary that they won't discuss sales for any platforms and wouldn't even admit the Vita exists.

Posted:A year ago

#2

Paul Jace Merchandiser

936 1,412 1.5
PlayStation 3, 2 and PSP sales are all quoted as being down, but the Vita isn't mentioned anywhere in the report.
I wonder why they omitted any mention of Vita sales. Surely it can't be doing any worse than the PSP.

Posted:A year ago

#3

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