Sony's Q1 earnings show a $35 million net profit, mobile revenue jumps 36 percent

Sony's first earnings report of the new financial year is in and it's eked out a net profit, albeit a small one. The $35 million net profit is an improvement from last year's results for the same period, and the good news is most pronounced in its Mobile Products & Communications department. Revenue grew 36 percent from last year, partially due to changes in the value of the yen, but also thanks to higher sales for smartphones, and a higher average selling price. The games division recorded an operating loss for the quarter, as sales of the PS3, PSP and PS2 dropped slightly while spending on R&D for the upcoming PlayStation 4 rose. Sony's new TV strategy may have shown some results, with year-on-years sales up 18.2 percent and attributed to an "improved product mix in LCD TVs" and cost reductions.

Filed under: Cellphones, Home Entertainment, HD, Mobile, Sony

Comments

Source: Sony Q1 2013 earnings (PDF), Slides