Sony’s expected earnings have doubled, to £261m. Those expecting heartening news about the company’s amazing sales being responsible for this turnaround will be disappointed. Sony earned more due to a strong yen. The company’s bottom line was also bolstered by a series of real estate sell-offs, including a former Madison Avenue HQ that went for over $1 billion.
Ultimately, this is just a song and dance for investors until the PS4 hits, or the Vita can gain enough traction. With a slew of high profile indie titles and slowly recovering sales, the handheld’s first price drop might see a turn in its fortunes. but with an ailing electronics division as well as gaming, Sony will need a lot more than that or selling off real estate to keep profitable.
Source Sony
Filed Under: Gaming News