Sony has seen bad times in the last couple of years, and it reported a $5.7 billion loss last year, with continuing losses since. It has focused on cutting down operating expenses by restructuring in a bid to return to profitability and its moves seem to be working. It plans to cut almost 10,000 jobs this year to clamp down on administrative expenses.
Anyway, it reported revenue of $20.57 billion in Q2, with an operating profit of $388 million, and a net loss of $198 million.
Digital imaging products generated $2.34 billion in revenue and $33 million in operating income while its Game division generated $1.89 billion in revenue and $29 million in operating profit. Mobile products revenue more than doubled, reaching $3.85 billion with an operating loss of $296 million. Home Entertainment brought in revenues of $3.02 billion, but also saw an operating loss of $203 million. Devices, which includes semiconductors and components, saw revenue of $3.20 billion and an operating profit of $382 million.
Sony Pictures generated revenues of $2.09 billion and an operating profit of $101 million, while Sony Music ringed up sales of $1.27 billion and an operating profit of $101 million.
The Financial Services division saw revenue of $2.96 billion and operating income of $400 million.
Sony’s cash reserves increased to $7.55 billion, while its marketable securities are now up to $8.13 billion.
Sony will be launching quite a few major products in the coming quarters, especially in the gaming, TV and mobile segments.
Check out Sony’s complete results here: Sony Q2 Earnings