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Sony (SNE): WSJ Sees Good Earnings, NYT Sees Bad

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By Douglas A. McIntyre Published
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Somewhere between The Wall Street Journal and The New York Times, the signals got crossed. After Sony’s earnings announcement, Rupert Murdoch’s paper ran a headline saying "PC, Camera, Flat-Screen Sales Help Sony Swing To Net Profit" The financial publication went on to point out that "Sony’s results marked a reversal from a year ago as it trimmed losses in its struggling PlayStation 3 video game business. Sales were solid in liquid-crystal display TVs, digital cameras and Vaio computers." That sounds like a solid turnaround nearly finished.

Over at the newspaper of record, as the NYT is known, the headline said "Sony Reports Surprising Quarterly Loss". Did the company make money or not? Hard to tell. The Times writes that Sony "posted a surprise quarterly loss on Wednesday after a weak stock market ate into the value of securities held by its financial arm."

While Sony did narrow losses at its gaming division, it is cutting prices on the PS3 which could hurt margins. There is no guarantee that it can make further progress against the Nintendo Wii or Microsoft (MSFT) Xbox 360.

Maybe Sony broke even.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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