Sony Q3 FY15 Results - Beats Market Expectations & 6.4 Million Shipped PS4's

[GribbleGrunger]

Market Expectations for Q3 were as followed:

EARNINGS FORECAST: The entertainment and electronics giant is expected to report a net profit of ¥31.91 billion ($269.54 million) for the three months ended December, according to a poll of analysts surveyed by financial data provider Quick. A year earlier, it reported a net profit of ¥27 billion.

REVENUE FORECAST: Revenue is expected to stay flat at ¥2.36 trillion ($20.1 billion) from ¥2.41 trillion a year earlier.

http://www.marketwatch.com/story/sonys-fiscal-q3-profit-likely-edged-up-slightly-2015-02-03

Sony Q3 Results:

Net Sales: ¥2.55 trillion yen
Operating Income: ¥178.3 billion yen
Net Income: ¥89 billion yen

Sony Computer Entertainment Q3 Results:

Net Sales: ¥531.5 billion yen
Operating Income: ¥27.6 billion yen

Sony Computer Entertainment Full-Year Guidance:

Net Sales: ¥1.290 trillion yen
Operating Income: ¥35 billion yen
Computer Entertainment Systems (PS3, PS4): 17 million
Portable Entertainment Systems (PSP, PSVita): 3.5 million
Software (Sales): 390 million

Additional Information Q3:

Computer Entertainment Systems (PS3, PS4): 7.5 million (6.4 million PS4)
Portable Entertainment Systems (PSP, PSVita): 1.4 million
Software (Sales): 147 million

http://www.sony.net/SonyInfo/IR/financial/fr/150204_sonypre.pdf

The Xperia smartphone business continues to struggle; Sony is laying off an additional 1,100 workers by March 2016 having previously announced 1,000 cuts, meaning the division will shrink by around 30 percent in total. Sales were actually up slightly year-on-year with a small operating profit, but new mobile chief Hiroki Totoki is implementing a restructuring plan designed to streamline the smartphone strategy.

4K sets have boosted Sony’s TV business, meanwhile, helping it turn a profit for three straight months for the first time in over a decade. The gaming division continues to perform well, with strong PlayStation 4 sales and income from network services driving a 17 percent increase in revenue. Sales have also been helped across the board by a weaker yen.

The cyberattack itself, which authorities believe was orchestrated by North Korea, hasn’t made much impact on Sony’s bottom line. Sony is putting aside 15 million dollars (¥1.8 billion) in "investigation and remedial costs" connected to the hack and, despite a projected 11.7 percent decrease in revenue put down to fewer home entertainment releases and less box-office take, Sony Pictures still made a slim estimated operating profit of ¥2.4 billion ($20.4 million) for the quarter.