Sony Reveals $312 Million Loss in First Quarter

By Brian P Rubin | 02 August 2012 | 18 Comments

Kaz Hirai has his work cut out for him. He took over as president of the company back in April when Sony was facing some of its worst financial troubles in years—and it seems that in the quarter since his ascension to the top spot (April 1 to June 30), fortunes haven’t quite improved.

According to earnings reports that were released today, Sony suffered a $312 million net loss, while the gaming division recorded a loss of $45 million, with falling PSP and PS3 sales taking the blame. The Vita’s sales, it seems didn’t do much to offset the loss of those console sales, and upon being questioned by investors, the company declined to specify the handheld system’s numbers. Which, in general, is not a super-good sign.

Sony has made adjustments to its forecast for the rest of the year, aiming lower so as to cope with the fallout from this quarter’s bad news. Add in the fact that Sony has said that their gaming division is a lynchpin for the company, and that we definitely won’t see a new home console this year and, well, things aren’t so hot for Sony right now.

But hey! Maybe a lot of people will buy PlayStation Vita systems between now and Christmas. It’ll have an exclusive Assassin’s Creed game! Kids love those.

Sources: Sony, Eurogamer, Engadget

18 Comments

Posted by Chad Hill on 02 August 12 at 8:54am

I’m not a massive Sony fan but it is still shit seeing that they are still losing money :/
Posted by Dudeman on 02 August 12 at 8:56am

This is a larger loss than Nintendo had. Wonder if Microsoft is doing well…
- Posted by michael on 02 August 12 at 9:30am
  
  the xbox is still selling like crazy, and with the massive minecraft sales i’d wager that microsoft are fine atm, maybe sony should consider a payment for online play for the ps3
  - Posted by Crichton on 02 August 12 at 11:53am
    
    Sony should consider payment for online play? Are you insane? No.
  - Posted by Daniel on 02 August 12 at 8:43pm
    
    I agree. Pay for service really isn’t all that bad, especially if it keeps the system you love afloat and its not really all that much.
  - Posted by Aeph on 03 August 12 at 12:05am
    
    The only things the PS3 has an advantage on are 1. Free online, 2. The ability to change which number the controller is connected as.(Fix this microsoft!) and 3. Some of the exclusives are good.
Posted by undeadpixel on 02 August 12 at 9:47am

microsoft is doing worst than sony last month they publish that they lost over 492 million dolars in 2012 Q1
- Posted by Ring on 02 August 12 at 4:30pm
  
  So you’re comparing results from a year ago to Sony’s results now? I don’t see how the two compare.
  And considering how they were doing fine last quarter: http://www.microsoft.com/en-us/news/press/2012/jul12/07-19fy12Q4earningsPR.aspx, I don’t see where your argument is.
Posted by Stuart on 02 August 12 at 11:38am

Probably because the ps3 lasts. I’m still on my original. U like xbox owners that have had to buy 5.
- Posted by Mark on 02 August 12 at 2:24pm
  
  6 years I own an Xbox, never had a problem, had it softmoded, hardmoded, if fell on the ground, twice, the faceplate is in shambles but the console is still alive and kicking, got a ps3 in May (since they now give one with a purchase of a pack of gum) and the ‘everlasting wonder’ already overheated 3 times for no apparent reason.
  - Posted by Corey on 02 August 12 at 7:51pm
    
    Up until 2009 the failure rate for your beloved Xbox 360s was roughly 33%. Now with the slim versions you only get a 1 year warranty unlike the older models which received a 3 year warranty due to several lawsuits against Microsoft. Pray to Bill Gates the slims last you. Even still, almost every Xbox 360 will scratch the shit out of your DVDs if you’re not careful.
    
    Not a fanboy of either console but I did buy a PS3 back in ’09 for my brother. I did so for the bluray, free online play, bluetooth, free wifi, sixaxis, 7.1 surround sound and true 1080p. I’m just saying, but go ahead and hate. :/
    - Posted by Mark on 03 August 12 at 9:34am
      
      Its not my ‘beloved’ the point you failed to see is that both systems are flawed and fragile, 360 had a higher rate of failure but it sold 5 times better on the first 2 years, its obvious its gonna get more attention, and regardless, there are people to this day complaining of the Red Screen on ps3, sony fanboys keep bullshiting themselves thinking its the holy messiah and 360 is a pile of crap.
- Posted by Ring on 02 August 12 at 4:32pm
  
  Same as the other guy said, Still on my first Xbox (Although, going to be upgrading soon, bigger hard drive and all that.)
- Posted by Knuckles121 on 02 August 12 at 6:51pm
  
  Im a Sony fan and even i can say this is bullshit. Ive been through 2 since release due to overheating. Even in an open area.
Posted by Trex on 02 August 12 at 6:33pm

Don’t know why ps3 fanboys think that the 360 gets the red ring of death every second week. I’m still going on my 360 6 years strong, no red rings. I am considering getting a slim for more hard drive space, but only for more space nothing else.
Posted by noob on 02 August 12 at 7:16pm

noob
Posted by noob on 02 August 12 at 7:16pm

noob noob noob noob noob noob
Posted by Robert Marshall on 02 August 12 at 8:03pm

Please can we consider that all systems have their strengths and weaknesses and that brands may blame some losses and gains on certain thing but it is actually cause of something else. Also both Sony and Microsoft have other products but Xbox and PlayStation respectively. They both sell computers and both sell phones so they both took some fiscal risks and should not be their companies should not be so ridiculed. I do not know about you fellows but i do not have a company that can take a $312 million net loss and not go bankrupt.