Report: Sony strikes gold, sees profitable Q1

Tuesday, 27 July 2010 07:20 GMT By Nathan Grayson


Somewhere, off in an – in all likelihood fictional – alternate universe, Kevin Butler’s riding a golden jet ski powered by fuel made from ground-up diamonds.

Of course, he always did that. But now, Sony can actually afford it.

According to Japanese publication Nikkei (via ABS-CBN), Sony’s set to announce a first quarter net profit of 30 billion yen ($342 million) thanks in large part to “aggressive cost-cutting.”

We imagine cake and confetti are the orders of the day around the Sony offices, as this is the first profit in two quarters. For comparison’s sake, the electronics giant reported a 25.7-billion-yen loss during the same April-June stretch in 2009.

Apparently, even Sony’s PlayStation division – which was looking a bit green as opposed to seeing it last quarter – managed to turn a profit this time around.

An official announcement from Sony is expected this Thursday.

More through the link.

Thanks, Edge.