Sony Game Division Posts Loss, But It's Getting Better

by Matt Helgeson on Nov 01, 2012 at 03:30 PM

Sony's had a rough year so far, littered with bad financial reports and layoffs. In a new financial statement, the losses continue.

Sony's posted a loss of $198 million in the its most recent fiscal quarter. Some of the loss was due to a slowdown in its games business. The company's PlayStation 3 and PlayStation 2 sales were down compared to last year (3.5 million units sold vs. 4.9 million units sold in the same quarter of 2011). The Vita and PSP combined to sell 1.6 million units.

There were some glimmers of hope. Though the $198 million loss for the quarter isn't exactly good news, it's better than the $312 million loss posted in the previous quarter. Also, Sony software sales were up, with PS3 and PS2 sales up 41.4 million from 40.2 million, while handheld sales were up 8.2 million from 8.7 million.

Other Sony departments like the home entertainment division, which covers home theater systems and televisions, saw their net loss drop to $203 million from $526 million last quarter.

Sony has lowered its revenue projections for the year ending March 2013, from $85 to $83 billion.

Sources: Joystiq, Engadget