14 DAY TRIAL // Consumer electronics giant Sony Corporation has revealed its third quarter financial results, showing a 51 percent increase in revenue that will result in the avoidance of the company's first annual loss in eleven years.
During the third quarter, sales reached 16.64 million euro, a 10 percent increase on the same period in 2004. Net income was posted at 1.18 million euro, marking a 17.5 per cent increase compared to 2004 and more than doubling the 63 billion Yen which analysts had estimated for the period.
The videogame division was cited as a major contributor, with sales and operating profit up by 48 and 52 percent respectively, compared to the previous year. Sony attributes this increase to the growing demand for its PSP handheld, which shipped 6.22 million units in the third quarter alone, and has now shipped a combined total of 15 million units worldwide.