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Sony Breaks Trend, Posts Quarterly Profits

by Meagan Marie on Jul 29, 2010 at 05:03 AM

Breaking the trend established by Nintendo and Capcom this morning, Sony’s reoccurring losses shifted from the red this quarter. Reporting a profit of $295 million this financial period, the jump is substantial considering the $426.7 million loss the same timeframe in 2009. Total yearly earnings are slated at $190 billion, again a increase from the $179 billion reported last year.

Moving into the gaming-specific subdivisions of Sony, the Networked Product and Services Division (which Sony Computer Entertainment is a part of, measured a sales increase by 32.4 percent. The division still posted a loss of $43 million (an improvement from last year’s $378 million), to which Sony credits to poor exchange rates, a similar story as Nintendo’s.

What can Sony credit for the financial turnaround? Sony vouches that the Computer Entertainment division saw an improvement thanks to the introduction of the slimmer and less expensive PlayStation 3 model last year, which resulted in a sales increase across the board. During the measured quarter, 2.4 million PS3 consoles sold worldwide, 200,000 more than last year.