Sony’s ‘official’ Q3 operating profit revised upwards 2% – Mobile World Live

Sony’s ‘official’ Q3 operating profit revised upwards 2%

17 MAR 2015

Japan’s Sony reported today that its Q3 operating profit was JPY182 billion ($1.5 billion), which was 2.2 per cent higher than it estimated last month.

The company’s February estimates weren’t final since it wasn’t able to compile official data for its Pictures unit following December 2014’s cyber-attack.

The revision, which means the Q3 profit was double from a year ago, was boosted by cost cuts and strong sales of sensors and video games, Reuters reported.

Revenue during the quarter ending 31 December increased 6.5 per cent year-on-year to JPY2.567 trillion, up very slightly from JPY2.558 trillion estimated last month.

Its forecasts for the full year ending March 31 were unchanged.

The ailing Japanese giant announced a significant number of job cuts in its mobile unit last month, as part of a reorganisation focused on achieving profitability.

In early February it estimated a Q3 net profit attributable to shareholders of JPY89 billion, up more than threefold from JPY26.4 billion a year earlier, on revenue of JPY2.56 trillion, which grew 6.1 per cent.

Sony’s Q3 results for the mobile business were actually not too bleak. Operating income increased 46.2 per cent to JPY9.3 billion on revenue up 28.7 per cent to JPY429 billion, driven by an increase in smartphone unit sales, an improved product mix, and foreign exchange benefits.

Its shares have risen more than 30 per cent on hopes of a recovery following the reorganisation.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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