For years the Playstation franchise carried Sony’s (SNE) earnings. The PS2 was one of the great selling consumer electronics products of all time.
Sony stumbled with the launch of the PS3. Microsoft’s (MSFT) Xbox had taken too many customers and the Nintendo Wii was becoming the world’s top game console. Sony’s CEO had to step down, and Howard Stringer was brought in from the US to run the company.
Sony’s game division has finally gone into the black.
Net income at Sony moved up 25% to $1.9 billion for the quarter ending December 31. Revenue rose almost 10%.
TV sales were the big winner for Sony during the quarter. Financially, the game unit which includes PS3 was a footnote. But, it is no longer a drag on earnings.
If there is any virtue to patience in business, it has found some very modest reward at Sony.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
