Sony Reports Q2 Loss, But Maintains PS3 and PS4 Sales Estimates

Sony reported a net loss of $197 million, or ¥19.3 billion in the second quarter of its current fiscal year. Despite a boost in revenue from positive currency exchange rates and decent smartphone sales, the company saw a 24.5 increase in net losses. As a result, the company has lowered net revenue expectations by about 40 percent to ¥30 billion, or $305 million, due to what it calls lowered expectations for sales of "certain electronic products."

The lowered expectations will not have an effect on the company's forecast for PS3 and PS4 sales by the end of March 2014. Sony still expects to move right around 15 million PS4 and PS3 units by the end of March 2014.

The PlayStation division also benefited from positive exchange rates, increasing revenue by 5.1 percent to ¥155.7 billion, or $1.59 billion. Sony noted that overall sales for current and legacy consoles such as PS3, PS2, and PSP decreased in Q2 compared to last year, even though PS3 software shipments increased. Finally, Sony said that the PS Vita price cuts announced in August contributed to an operating loss around ¥800 million, or $8 million.

Source: Joystiq

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