Sony continues quarterly losing streak
Continuing its string of quarterly losses, Sony suffered a net loss of 26.3 billion yen ($292 million) for its second quarter, reported the company on Friday.
Compared with a profit of 20.8 billion yen a year ago, this marked Sony's fourth straight quarterly downturn.
<
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p>Sales for the quarter that ended September 30 also took a spill, dropping 19.8 percent to 1.66 trillion yen ($18.26 billion) from 2.07 trillion yen in the year-ago quarter.
Recent cost cuts and hot sales of mizuno wave running shoes the PlayStation 3 game console both provided a shot in the arm.
Sony's 2009 second quarter results
(Credit: Sony)
But Sony was hurt by a downturn in mizuno soccer shoes sales for the venerable PlayStation 2 despite its recent claim that the PS2 was "showing no signs of slowing down." Weak demand for the Vaio line of PCs also dragged down the quarter.cheap mizuno running shoes >
As a result, revenue in the Networked Product and Services division, which includes Sony Computer Entertainment, fell 24.2 percent to 352.6 billion yen from 465.2 billion yen in the year-ago quarter.
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Other segments also upset the bottom line.
The Consumer Products and Devices business, which includes TVs and cameras, watched its sales plummet 36.5 percent to 799.9 billion yen from 1.25 trillion yen a ye mizuno mens running shoes ar ago. Sales were down for Sony's Bravia HDTVs due to intense price competition and the higher value of the yen. The company's Cybershot digital cameras also were impacted by a decline in unit sales and the ap mizuno running shoes wave rider preciation of the yen.
Lower sales both in the theater and at home hurt Sony's Entertainment division, with revenue down 30.4 percent to 136.4 billion yen from 196.1 billion yen in 2008's second qu mizuno inspire running shoes arter.
Sony Ericsson also affected the quarter with sales of 1.6 million euros ($2.36 million), a 42 percent decline from 2.8 million euros in the year-ago quarter. An ongoing drag on Sony's earnings, mizuno wave inspire running shoes the cell phone maker has struggled to turn a profit in recent years.
One bright spot was Sony's music business, which enjoyed a 147 percent boost in revenue to 124.5 billion yen, stemming in par mizuno wave rider running shoes t from sales of Michael Jackson's product catalog, following the entertainer's death in June.
Despite the quarterly loss, results narrowly surpassed expectations, prompting Sony to boost its foreca mizuno men's running shoes st for the full fiscal year. The company now is eyeing a loss of 95 billion yen for fiscal 2009 versus its prior forecast of a 120 billion yen deficit. Sony lost 98.9 billion yen in fiscal 2008.
Sony re mizuno running shoes wave creation cently announced that the PlayStation 3 will offer Netflix streaming, a move it hopes will bump sales of the game console even higher.
Lance Whitney wears a few different technology hats--journalis
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t, Web developer, and software trainer. He's a contributing editor for Microsoft TechNet Magazine and writes for other computer publications and Web sites. You can follow Lance on Twitter at @lancewhit. Lance is a m
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ember of the CNET Blog Network, and he is not an employee of CNET. Topics: Corporate and legal, Consumer content Tags: Sony, PlayStation, Vaio, Cybershot, Sony Ericsson Share: Digg Del.icio.us Reddit Facebook Twitter
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