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Sony Corp doing better, but not as well as many analysts hoped
By CMU Editorial | Published on Friday 2 November 2012
Sony Corp’s fortunes may be on the turn after some difficult years, with revenues up slightly in the second quarter of their current financial year, and losses down. Though the electronics and entertainments conglom still didn’t perform quite as well as many analysts had predicted.
The Sony company overall posted a loss of 15.5 billion yen, compared to 27 billion a year ago. Revenues were up 1.9% to 1.6 trillion yen, and earnings before interest and taxes actually put the group into profit.
As previously reported, slumping sales on the consumer electronics side coupled with a strong yen and some natural disasters hitting operations have been mainly responsible for Sony Corp’s bad fortunes in recent years.
On the entertainment side things haven’t been so bad and, while the Sony film company saw operating profits slip year on year (though partly because of one big deal in 2011), Sony Music saw a 24.1% increase in operating profit, despite a 4.3% decline in revenue, thanks, presumably, to some quiet streamlining here and there across the music major. I mean, Sony could pretty much fire anyone not working on One Direction at the moment and it not have that big an effect on overall success.
