Sony Performs Well In Q3 Despite Troublesome End To 2014

Sony Performs Well In Q3 Despite Troublesome End To  2014

While Sony was on the end of a publicity nightmare due to the late 2014 cyberattack, the company did come out of Q3 looking strong financially if their estimates are anything to go on.

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Sony managed an estimated net profit of $756 million. Forecasts are looking at a six percent year-to-year increase in revenue at $21.7 billion and a net loss change from $1.95 billion to $1.44 billion.

The smartphone wing—Xperia—has proven to be a bit of a bad wheel. Even though sales were up for the company here, it wasn’t enough to warrant keeping the amount of workers on and cuts have been announced to increase by 1,100 workers to 2,100. The push towards 4K television have bumped the TV wing of Sony which hasn’t its best for a long time. As expected the gaming division is extremely consistent in performance while Sony Pictures is predicted to pick up about $20 million in operating profit.

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It’s not entirely surprising that the film division has failed to inspire profit confidence similar to the gaming and TV division. Internal emails have even shown that the kinds of films the company invests heavily in aren’t what some would like to see pushed ahead. The expectations were never particularly glowing for the division so the attacks didn’t torpedo it.

As a result of the attack Sony is investing $15 million into investigating and cleaning up damage caused.

Starting with Kabir News in 2013, James has focused on tech, gaming, and entertainment. When not writing, he enjoys catching up on sci-fi and horror shows and comics. He can be followed on Twitter @MetalSwift.

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