Sony posts a net loss of $115 million for Q3, stays on track for full-year operating profit
Still-in-turnaround-mode Sony has reported its earnings for the October to December period, and has recorded a net loss of about 10.8 billion yen ($115 million). It did however improve its revenue to $21 billion as the yen weakened, despite slower sales of items like HDTVs and Blu-ray players. Key for Sony is that it managed an operating profit for the quarter of 46.4 billion yen ($496 million) and remains on track to make its business profitable in the next financial year.
Despite Sony's best efforts -- which include initiatives that you've heard about like its Triluminos HDTVs, PlayStation Mobile for tablets and phones, 4K and new software for the Vita -- it's cut sales targets in all of those divisions. Projected sales for TVs and cameras fell by 1 million units each, and portable game players by 3 million, as noted by Bloomberg. It's been a year since Kaz Hirai took the reins, and with his "One Sony" restructuring plan well underway and (what everyone suspects is) a PlayStation 4 event around the corner, 2013 is as important a year as the company has ever had. We'll check in for more info on the earnings call in just a bit, for now you can paw through all the numbers yourself in the slides and reports linked below.
