Sony Reports Solid Financials
January 31, 2008 at 5:48 AM (PT)
SONY reported a 25.2% jump in profit for the OCTOBER-DECEMBER quarter TODAY (1/31) as its PLAYSTATION video game business stopped losing money after six straight quarters of losses. Profit at the electronics and entertainment company climbed to 200.2 billion yen ($1.88 billion) for the fiscal third quarter from 159.9 billion yen the same period the previous year.
Quarterly sales gained 9.6% to 2.859 trillion yen ($26.87 billion) from 2.608 trillion yen a year ago. In its core electronics business, sales for the quarter rose 10.2% on healthy demand for liquid crystal display TVs, VAIO personal computers and digital cameras.
SONY BMG MUSIC ENTERTAINMENT also fared well with best-selling albums such as ALICIA KEYS' "As I Am," CELINE DION's "Taking Chances" and CARRIE UNDERWOOD's "Carnival Ride."