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Sony financials: game business loses $8 million, projections slashed 40%

Thursday, 31 October 2013 10:29 GMT By Dave Cook

Sony has posted its latest quarterly and half-year financial report, revealing that its game arm lost ¥0.8 billion / $8 million for the period. As such, the company has lopped 40% off its full-year projections.

The report was posted here, and covers the three-month period ended September 31, 2013.

The quarterly figures flag the game division’s ¥0.8 billion ($8 million) operating loss, compared to its ¥2.4 billion profit for the same period last year. However, sales were up 5.1% year-on-year at ¥155.7 billion compared to last year’s ¥148.2 billion.

However, the 5.1% increase transforms into a 14% decrease when the tumbling value of the Yen becomes stacked against the Dollar and Euro.

The report says of the $8 million loss, “The decrease in sales on a constant currency basis was primarily due to a decrease in unit sales of PlayStation 2, PlayStation 3 and PSP hardware, partially offset by increased PS3 software unit sales compared to the same quarter of the previous fiscal year.

“This year-on-year decline was primarily due to the impact of of a strategic price reduction for the PlayStation Vita and the unfavourable impact of foreign exchange rates, partially off-set by the above mentioned increase in software unit sales.”

The impact of PlayStation 4′s R&D, marketing and production cost were mentioned but no figures were disclosed. The report reads, “In the Game segment, operating loss significantly increased year-on-year primarily due to an increase in research and development expenses related to the upcoming introduction of the PlayStation 4 and the impact of a strategic price reduction for the PS Vita.”

Sony’s disclosed its half-year figures further on in the report. The game division’s sales for the period were up 2.8% at ¥273.6 billion, compared to ¥266.1 billion year-on-year.

However, it seems that the company is paring back the rest of its operations due to a few shortcomings at Sony Pictures and other divisions. As a result, the company’s ¥50 billion net profit forecast has been hacked 40% to ¥30 billion.

What do you make of the figures above? Can PS4 turn things around? Let us know below.

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52 Comments

  1. Erthazus

    Some Playstation fanboys laughed about Nintendo financials? HA. the irony.

    Someone buy this sinking ship. Save them from eternal purgatory full of bad products.

    #1 1 year ago
  2. monkeygourmet

    So, whats the positive on this?

    #2 1 year ago
  3. Erthazus

    ^ Positive is that soon Sony will sell another building ;)

    #3 1 year ago
  4. rbevanx

    Playstation will still exist someone like LG will take that if the worse comes to worse.

    #4 1 year ago
  5. wamp

    @2 the positive on this is that they are in 4 the gamer, u know…

    Things are bad there the last couple of years. The PlayStation Plus push this year was very nice, but I’m sure was not profitable. They set it up for the PS4, went all in for it and hoped to have a dominant success like the PS2. The first weeks after E3 it looked liked it could happen, but right now i doubt it.

    That’s just my personal thoughts and theories, but you can quote me in article as an analyst prediction :) I don’t mind.

    #5 1 year ago
  6. polygem

    hey dragon…where are you? please educate me. i am confused. now i cannot enjoy playing ratchet and clank anymore right? because by your logic only commercial success counts.

    #6 1 year ago
  7. Joe Musashi

    It makes sense to adjust projections in light of such financials.

    Certainly more sense than to be out of line of previous projections by a significant margin and still insist you’re going to make over double the volume in a quarter of the time just as your competitors are about to launch new products with heavy marketing.

    Also, selling a lease is not the same as selling a building. ;)

    JM

    #7 1 year ago
  8. Dave Cook

    @7 Spot on, as always mate.

    #8 1 year ago
  9. Belazur

    #1 / Erthazus
    You realized Nintendo lost more in operating costs than SONY (by about three times the amount)?
    Buy a brain, genius!

    #9 1 year ago
  10. Zarckan

    Umm they lose $8m cost of PS4 development ~$400m revenue project in NEXT financial year?

    BIG!

    no problem here, move along.

    #10 1 year ago
  11. pcbros

    Maybe someone will provide us with lots of clear numbers emphasizing the losses and maybe even confirm whether or not the Vita is indeed dead (at least in certain parts of the world)? :P

    #11 1 year ago
  12. Legendaryboss

    Okay getting this out in the open:

    PS2 = Dead, discontinued even.
    PSP = Dead Outside Japan (On Occasions)
    PSP Go: Failed and died on Day One.
    PS3 = Doing fine.
    PS4 = Possible success because it is going to get first party support and third support is clearly there.
    PS Vita = Proving to be dead outside japan.

    PS Vita is doing horrible outside Japan (which will lose balance at somepoint): Maybe better in EU but dead in the US. But performance in those two regions is still horrible. Problems: Software sales are poor outside Japan. SCEE/SCEA don’t do collaborations like SCEJ did with Toukiden. Most third parties aren’t supporting it. even though there is some support. Crap marketing, across-the-board could change with PS4. Not enough AAA exclusives for 2014. Remote Play? Please don’t make me laugh. So overall poor situation.

    Now unlike another platform by a rival in a similar situation, i have stated the problems and called it dead now any Sony fanboys feel free to rip me apart, call me a Sony hater although if this doesn’t happen then there is no excuse for it happening for a certain rival.
    This doesn’t count: http://25.media.tumblr.com/tumblr_m6b27oUgm31rys4czo1_500.gif

    Side-point: Baiting a certain someone for a response, all i’m going to say.

    #12 1 year ago
  13. Clupula

    $8,000,000 is not a very big loss. I wonder if God of War: Ascension had sold like the other titles in the franchise, if that would have been enough to fix this. I mean, everything else this year went according to plan, but that was their big 2013 release and it flopped, due to not being what God of War fans wanted to see.

    #13 1 year ago
  14. Dragon

    @Dave,
    Some numbers you could use-
    PS3 = 2 million (0.8 million more than 360, GTA5 bundle at work)
    PSP+Vita = 0.8 million (25% market share against Ninty share of 75% this HY)
    Total software = 93 million units (more than any rival, very impressive)
    http://www.sony.net/SonyInfo/IR/financial/fr/viewer/13q2/slide/image/04_image.jpg
    http://www.sony.net/SonyInfo/IR/financial/fr/viewer/13q2/slide/image/16_image.jpg

    PS3 top of the heap.
    Sony realises adding numbers of a walking dead infant+ adding numbers of a dead old man = Little less dead number.
    Still, Sony has already lost portable market by a huge margin. Vita TV effect is undecided though.

    Modest loss of $8 million, not surprising since it matches MS performance in gaming division (MS buries it in devices section), with negative impact of next-gen for all to see. Both will have more losses to come in next quarters.

    Official Projections FYT-
    1. PS3 = 10 million (very realistic)
    2. PS4 = 5 million (“)
    3. PSP+Vita = 5 million (no Wii U= 9 million levels of drugs here)

    Overall Sony report-
    Operating profit = $175 million
    Net loss = $200 million

    A bad and below par quarter for Sony, mainly because of its movie part having a loss of $200 million this Q compared to $90 million profit previous FY. Missed the analysts expectations.Funny thing, Sony was the top grosser in movies last year, and now has one loss after the other, like “White House Down’ etc. Smartphone biz has modest loss and is performing much better than last year.
    TV division is also posting a loss, not good.

    Oh, and I see some poor spin doctors, showing off their financial retardness in this thread too. Maybe they can feel enlightened after seeing some numbers above.
    Funny thing that they post in other threads that they arent concerned about numbers, yet still feel butthurt when someone points them out. Poor people I guess.

    #14 1 year ago
  15. TrickyAudio

    Pretty confident PS4 and PSN will prove very successful for them over the next few years.

    Mobile is getting better since its split with Ericsson, the X1 is a great smartphone.

    They need to sort their TV shit out, though. Bravias are brilliant quality, but overpriced compared to the Korean stuff.

    #15 1 year ago
  16. Dragon

    @15,
    Pretty accurate. Mobile is doing great and improving, although maybe not at the rate expected.
    TV needs further tightening, since Sony has already moved on to more profitable higher cost displays. Just cant beat the Koreans on pricing.
    I guess Korea is the new Japan :P

    #16 1 year ago
  17. monkeygourmet

    @Dragon

    No one in here seems particularly ‘butt hurt’, just asking for a break down, which you have given us.

    “Oh, and I see some poor spin doctors, showing off their financial retardness in this thread too. Maybe they can feel enlightened after seeing some numbers above.”

    “A bad and below par quarter for Sony”

    @LB

    “Baiting a certain someone for a response, all i’m going to say.”

    Really…? REALLY? Pot calling the kettle black, no?

    #17 1 year ago
  18. Legendaryboss

    @LD Oh my lord! Nope.

    @18
    Oh i know i use bait tactics but wasn’t I condemned and attacked for doing the same bait tactics on that person by him, you and anyone else involved?

    #18 1 year ago
  19. monkeygourmet

    @19

    It depends. In this instance it was quite obviously a joke based on the Nintendo financials the other day and the figure break downs.

    stealth edit detected

    #19 1 year ago
  20. Dragon

    @LB,
    Do not fret.
    Although it depends. When you bait their fellow platform fellows, its “baiting”. When they do it to you/others, its a “joke”.
    Fine double standards and “protecting my dear platform friends” on display here.

    @7,
    +1

    #20 1 year ago
  21. OlderGamer

    Sony and Nintendo are both Japanese game companies. Connection?

    Maybe it just is what it would seem to most of us: next gen R&D costs folded in?

    What difference does it make if the bad financials are for Nintendo or Sony or MS? If one company exits, gamers lose. Imo, bad news is bad news.

    Maybe this news isn’t that bad? If PS4 sells well, this(and presumably the next quarter or two) will be forgotten in a couple of years time. This industry is like riding a wave, sometimes you are up, sometimes down, the trick is to just stay above the water.

    #21 1 year ago
  22. Legendaryboss

    @22
    OlderGamer is back!!! http://i134.photobucket.com/albums/q112/tofulovesanime/Excited%20Gifs/HOORAY.gif
    Enjoy your break?

    @20
    Well whether it was a joke or not it served its intended purpose, see Dragon’s response (14). And was clearly bait.

    #22 1 year ago
  23. Dragon

    ^I think you should know by now that I am there in almost every financial thread. I don’t need some moronic invitation for that.
    Plus, this thread was way late. Results came in early morning.

    So your accessment is completely wrong.

    #23 1 year ago
  24. OlderGamer

    Not really back because I never really left. I just don’t post much and don’t sit here as much as I used to. And yes LB, been a nice change of pace for me.

    #24 1 year ago
  25. DSB

    If you bother to actually read the article it’s clear that they got screwed on the currency market, not the games market.

    Not that I want to give any Sony fanboy a peaceful nights sleep, I hope they get hemorrhoids, but the facts be the facts, yo.

    This shit is exactly why the Japanese are reported as being more worried about their ridiculously unstable economy right now, over stuff like their globally disastrous nuclear emissions.

    It’s not gonna kill Sony right away, but shit like that could easily kill an upstart or a riskier company.

    #25 1 year ago
  26. Dragon

    “This shit is exactly why the Japanese are reported as being more worried about their ridiculously unstable economy right now, over stuff like their disastrous nuclear accidents.”
    How is worlds 3rd largest economy “unstable”? More like stagnated.

    #26 1 year ago
  27. DSB

    @27 The Japanese economy is big, but even though it’s only the third biggest, it somehow manages to be more volatile than all the others. I don’t think you can find me an economist that will say any different. It’s capitalism done wrong.

    When you manage to turn a 5.1% increase in sales into an 8 million dollar loss, after enjoying what, roughly 24 million dollar earnings the year before, simply because the yen is all over the fucking place, and the government is constantly scrambling for position?

    That’s murder for some businesses. Sony can take the hit, others couldn’t. I wouldn’t invest 5 bucks in a Japanese company, unless it was like Toyota-grade stock.

    Somehow, Japan makes their clusterfuck of an economy work if you step back far enough to see the truly big numbers, but up close it’s inefficient and inconsistent as all hell.

    #27 1 year ago
  28. Dragon

    @28,
    And you think US and China are very stable?
    Just ask analysts outside those 2 countries. More than US which plunged the entire world into worst depression in 80 years?

    Japan has one of the best Human Development Index, better than those 2 countries. And its a much smaller country than the others, yet China only surpassed it now. And it has much higher per capita income.

    #28 1 year ago
  29. viralshag

    Japan is currently not in a great state financially and as for their gov. debt, they’re actually not much better than Greece.

    #29 1 year ago
  30. DSB

    @29 They are far easier to predict. China is a bit of an unknown quantity. That country is so weird I don’t even want to know.

    But if you knew anything about economy, you’d know that a depression like the one we just had is part and parcel of the system.

    Bubbles, bubbles everywhere. Whether a bubble results in a depression largely depends on how willing we are to prepare for it. We sustained the tech bubble, for example.

    And really, in spite of everybody’s quaint, feigned surprise, the only guys who didn’t see this coming, were the guys who didn’t want to see it coming, because these crashes are always preceded by the most amazing goldrush. It’s called a bubble because it rapidly expands before it blows the fuck up.

    “I love gooooooooooold. So fuck you, and fuck your mortgage. I’m rich, and I’ll be out before it goes bust.”

    This is the logic of the capitalist economy. We eat our own tail to become full. Mostly that feels good, sometimes it hurts.

    #30 1 year ago
  31. OlderGamer

    “Sony and Nintendo are both Japanese game companies. Connection?”

    Exactly what DSB said, was what I was thinking.

    #31 1 year ago
  32. polygem

    I did bait dragon…but as a friend and i’d reallly like to get an answer to my question from him.

    #32 1 year ago
  33. polygem

    I am enjoying my break as well btw. Thx for asking :)

    #33 1 year ago
  34. Playmaker

    Stock is down 11% right now. Time to buy? It’ll surely come up some with PS4 around the corner.

    Sony doesn’t know what it is. They get crushed on non-PS hardware buy Samsung in TVs and Phones. Get smashed by Nintendo in hand held gaming devices ala 3DS vs Vita. Tough competition from MSFT in console and rem even the laptops they make or comps all run Win 8 a MSFT OS. They’re in a bad spot and have lost they’re luxury device premium price point status.

    Selling PS4 at $400 is obvs a good choice for consumers but bad business wise and for investors. With XB1 at $500 a $450 price point would have been better IMO. Still $50 less and now the opportunity to offer “sales” and price it at $400 or w/e in the future. Now they’re starting at a low point and not much room to maneuver down.

    #34 1 year ago
  35. Legendaryboss

    @33/34
    I wasn’t referring to you Polygem, now now don’t turn into a jealous girlfriend Polygem your better than that :P

    http://www.youtube.com/watch?v=qCsgh-5zRFE

    But good to know ;)

    #35 1 year ago
  36. fearmonkey

    @35 – I would think now is a good time to buy Sony stock, it can only go up after the PS4 is launched. Unlike the PS3 debacle, the PS4 is posed to be a real winner. It might not take top sales in the US out of the gate, but everywhere else it probably will. I don’t know anyone personally buying an Xbone until Halo comes out. A few friends are getting a PS4, most are sticking on PC for now.

    A year ago, I was buying a new Xbox for sure, what a difference a year makes.

    #36 1 year ago
  37. Playmaker

    @37 Yes, I agree. In the short term I think Sony will go up (still relative to how much it dropped today) based on PS4 sales. But long term? Would you invest in this company? I personally do not see the long term upside with even the PS4 coming out. Seems industry experts expect console sales to decline over their lifetimes. We will prob never see something like PS2 again.

    Wait til Apple and Google jump in. Amazon is going to next year possibly even in christmas this year. IMO XB1 has more future potential as it can multitask better or is aimed towards an all around entertainment device ie more potential customers. Price is to high right now but when it is discounted in future XB1′s sales will accelerate more than PS4 I think. Apple’s next gaming device is prob already here same with Google as in tablet devices hooked up to TV via HDMI. Now that apple controller is coming out soon Sony better watch out! Haven’t even mentioned Valve and Steambox!

    Tough sledding for all as competition is gonna heat up. Sony is in the worst position I think, but who knows the future. They’re also smallest among everyone else but Valve.

    #37 1 year ago
  38. karma

    Yeah not surprised honestly. I think next gen will see even worse financial reports for the console makers. I myself was on the fence about whether to get a PS4 next gen to replace my current 360. But I recently heard that PS4 wont allow media streaming from PC (which I use a lot) with my current PC + 360 setup, well its pretty much put me off altogether.

    Now that we are finding out what these new consoles can and cant do, they’re both looking much less attractive everyday. I think thats going to drive a lot of people to look at alternatives gaming / media solutions like Steambox or PC for the next ten years.

    #38 1 year ago
  39. Dragon

    @33,
    “China is a bit of an unknown quantity. That country is so weird I don’t even want to know.”
    Its not. Its just different from US. Move in the Asian perspective and it makes perfect sense. You should just not look at it from a western perspective.
    Same goes for Japan.
    And you yourself pointed out fallacies in US economy. Where did those bubbles rise first?

    In the end, blaming the surrounding is a fools way out. Everyone lives in this capitalist world, so blaming “capitalism” itself wont do anyone any good.
    Rule of the world.

    @38,
    So you think X1 will outsell PS4 despite MS never outselling Sonys consoles in past 2 generations despite having numerous advantages like 1 year headstart, cheaper price and so on, and now enjoying neither of those advantages?
    Quite unlikely I would say.

    #39 1 year ago
  40. Francis O

    Dragon dragon dragon…….. coming with the DAMAGE Control

    You have to be the biggest corporate slave I’ve ever seen. Look at you dance like a idiot in these comment section man.

    Sony is not your messiah, or god. You don’t work for them. Stop trying to damage control their shitty numbers.

    LOL, freaking pathetic.

    #40 1 year ago
  41. Joe Musashi

    ♪ ♫ “.. Like rai-i-ain on your wedding dayyyyy ” ♫ ♪ ♬ ♪

    JM

    #41 1 year ago
  42. DSB

    @41 I don’t really see your point. Forcing your businesses to sustain arbitrary results by throwing your currency around like a ragdoll is alright, because the capitalist system is fundamentally flawed?

    Uuuuh… Well no. Not even close. That’s not any kind of logic. At all.

    I can’t imagine what life must be like for a startup in Japan right now. You’d have to have massive bank to sustain those hits. How are you supposed to know where the yen will be next quarter?

    The US is Wall Street (as in the movie) capitalism. Yes. Sharks climbing on top of the little guy. But sharks are cruel and instinctive, and that makes them predictable. I’d argue that Japan is closer to Benny Hill capitalism.

    Everybody chasing everybody around, no one knows where the fucking numbers are, and eventually they all end up in a bed and no one has any fucking clue what’s going on, so they just crawl out and start over again.

    #42 1 year ago
  43. Francis O

    @45 LOLOLOLLL!!!!!!

    - I’m out

    #43 1 year ago
  44. Legendaryboss

    I can’t contribute to the obvious irony/alter ago nonsense beyond this comment.

    I am outta here.

    @12
    Since no one had a problem or bothered to offer a rebuttal i see this is something exclusive to oh holy thou Nintendo.

    #44 1 year ago
  45. ddtd

    The PS4 is going to do well. In fact, the Playstation is the really, truly, profitable part of their business.

    If I were Sony, I’d cut or sell off the movie division. I don’t think Sony Pictures has turned a profit in years, and movies are way too big of a risk. Also, they haven’t done well in the other consumer electronics (TVs, stereos, etc…) as well. They’d be better off focusing on Playstation, SOE and TV.

    #45 1 year ago
  46. Dragon

    @44,
    “I don’t really see your point. Forcing your businesses to sustain arbitrary results by throwing your currency around like a ragdoll is alright, because the capitalist system is fundamentally flawed?”
    Yes. It is.
    Btw, those policies are made by people who how waay more than you and me about economics, so I trust them. And its working.
    Not that any of this affects me in any way. I am immune enough and work hard enough to not be affected by financial fluctuations.
    Otherwise, we can always agree on disagreeing ;)

    @49,
    Your facts are very wrong. Movies are a very profitable part of Sony. In fact, more than gaming and hardware ones.

    #46 1 year ago
  47. DSB

    @50 Hahaha. Okay. We’ve now reached the point of the discussion where one of us resorts to relativism instead of a real argument.

    So the people who caused the financial crash, who inarguably also knew more than either you or I about the inherent workings of the market, are also worthy of your trust?

    Interesting way of looking at things, for sure.

    “It’s okay that you ruin everything, as long as you know more than me”. Seriously, you are every politicians wet dream.

    I call that goose stepping into oblivion, son.

    #47 1 year ago
  48. Dragon

    @51,
    I wanted to end this, but have it your way.
    Let me show you how much you don’t know about Asian markets.

    Abenomics isn’t there to haphazardly devalue yen, its a tried and tested method used to bolster economy especially in countries which have more exports than imports. It allows domestic companies to shore up their income, and in turn allow them to invest more in the country.
    Same goes for FDI and other investments.
    The biggest catch on this is the risk of inflation. However, it seems Japanese gov. has done well in that regard. Abenomics is working very well until now. Like every financial decisions, it has its pros and cons, and as of now Japanese gov. is doing a great job.

    And FYI, the Japanese economy expanded an estimated 2.45 percent annualized pace in the three months through September, the fastest among the Group of Seven industrialized countries.

    So please, spare me a lecture on Economics. I come on these threads with numbers because I know what I am talking about.
    Come again when you have some numbers to back up you arguments, not hyperbolic statements.
    I have mine ready.

    #48 1 year ago
  49. DSB

    I considered it done when you resorted to relativism man :P

    Again, simply saying something doesn’t make it true.

    You may kid yourself that Abenomics is a silver bullet, but if you looked just a bit beyond anything except what directly confirms your own bias, you’d see that there’s no lack of people who are willing to flunk Abenomics, and flunk it hard.

    And I find it kinda weird that the yen is STILL being devalued, when your claim is that that was never the intention. A lot of people suspect the Japanese government of devaluing it in a misguided effort to boost exports, which in turn just undermines long term growth. It’s gonna have to come up eventually. When is purely up to the government.

    Right now, nobody has a clue what the results will be, but they can usually tell you that it’s not great right now. And I would imagine that Sony feels the same, as they see their money disappear into thin air.

    The problem with prophets is that none of them agree with eachother. Both Paul Krugman and Milton Friedman are Nobel Prize winning economists, and yet they agree on very little except for the basics of the field.

    That’s why it’s a good idea to read things that challenge your views, and broaden your perspective, instead of clinging to the notion of one ideology over all, and nothing else.

    #49 1 year ago
  50. Hyperx64

    Nyaaaaaa, what’s all the hubbub. Bub.

    #50 1 year ago
  51. nollie4545

    Only a dick would claim the Japanese economy is anything but long term screwed. Tonnes of folk, no natural resources and a neighbour who fecking hate them.

    Chinese and Korea are where the growth is.

    Samsung will be the new Sony before long, wait and see.

    #51 1 year ago
  52. Dragon

    “Again, simply saying something doesn’t make it true.”
    Agreed. You are simply saying Japanese economy is “bad” without defining what’s “bad”. I had clearly stated earlier that it was stagnated, which is exactly what data post 90s suggest.

    “You may kid yourself that Abenomics is a silver bullet”
    No. You are kidding yourself saying that its not. I only said its working well right now, and backed it up with tangible financial data. You didn’t back up your claim.

    “when your claim is that that was never the intention.”
    What? Read#53.
    “Abenomics isn’t there to haphazardly devalue yen”
    They are devaluing yen, when did I oppose that? Again, you are just putting words in my mouth.

    “Right now, nobody has a clue what the results will be.”
    Yes, I never said I have too. I just said the plan is working at present. Nothing more.

    “That’s why it’s a good idea to read things that challenge your views, and broaden your perspective, instead of clinging to the notion of one ideology over all, and nothing else.”
    Agreed.

    We should become Economics professor ;)

    #52 1 year ago

Comments are now closed on this article.

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    Fable Legends was announced for PC today during Microsoft’s Windows 10 event, along with the news it would contain cross-platform play with Xbox One. The game will allow you to play with up to four of your friends online across both platforms. A video from the team at Lionhead, which goes into more detail, was […]