Sony posts net loss of $198 million for Q2, PlayStation profits decline

Sony posts net loss of $198 million for Q2, PlayStation profits decline
Sony had a net loss of ¥15.5 billion ($198 million) in its second fiscal quarter, while its gaming division saw year-on-year declines in profit. The Q2 figure represents year-on-year reduction in loss of 42.6 percent, and improvement from the $312 million loss made in Q1.

Games-wise, the PlayStation division's operating income in Q2 was ¥2.3 billion ($29 million), a year-on-year decline of 23.3 percent. Sony shifted 3.5 million PS3 and PS2 units across the quarter, compared to 4.9 million last year. Vita and PSP sales came in at 1.6 million.

The company has lowered end-year projections of Vita and PSP sales significantly, now down to 10 million from an initial figure of 16 million. In May, Sony CEO Kaz Hirai indicated a fiscal year estimate of 10 million for Vita alone. The PS3 and PS2's combined fiscal-year estimate remains at 16 million.

In contrast, software performance saw slight growth across the quarter. PS3 and PS2 sales rose year-on-year to 41.4 million, up from 40.2 million. Vita and PSP figures also climbed, up from 8.2 million to 8.7 million.

This article was originally published on Joystiq.