Sony Revealed a Decrease in Profit of More Than 50%

Sony corporation reveals a decrease in profit of 54,3% for the third quarter of fiscal year 2016/17.

The decrease in profit is even with the successful performance from Sony’s Game and Network Services, that of course includes the popular playstation series/brand. A 5.2% increase in sales to $5.325 Billion for the last three months of 2016 has been recorded by G&NS.

Looking at Sony Corporation as a whole, the company recorded an operating income (more commonly known as profit) of $796 million, down from $1.80 billion for the same three-month period in 2015.

Revenue also dropped, but by a lesser amount. Sony's Q3 revenue stands at $20.668 billion for 2016, down 7.1 percent year-on-year.

Sony has blamed ‘’the impact of foreign exchange rates’’ for the revenue drop. Sony also say that if you ignore those effects, ‘’sales were essentially flat year-on-year, due to significant increases in Game and Network Services and semiconductor segment sales.’’ It was ‘’substantially offset by a significant decrease in Mobile Communications segment  sales,’’ the investors report continues.

Recently, rumors have circulated that Sony wants to sell off Sony Pictures. Although Sony said that its ‘’commitment to Sony Pictures Entertainment remains unchanged”.

You can find the Financial results here.

Ivar Cappelle

Ivar has been playing and enjoying video games since he was young and now shares his passion with millions online.

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