savor despite: Sony cuts Q2 2012 losses to $198 million, bumps revenue to $20.6 billion thanks to mobile

Sony's

After losing a whopping $5.7 billion last year and $312 million last quarter, Sony's recent austerity measures seem to be paying off -- the company lost only $198 million in Q2. The company's been madly restructuring since CEO Kazuo Hirai came on board last year, and recently shuttered a lens plant in Japan while moving its mobile HQ from Sweden to Tokyo. Altogether, 10,000 jobs cuts are projected this year by Sony order to stanch the red ink, and it looks like it's started to pay off. Notably, the company saw a drop in restructuring costs over last year, when it incurred charges during the sell-off of its display businesses.

By division, Sony's mobile operations continue to generate more revenue, gaining $3.9 billion this quarter -- more than double last year's numbers -- though it still lost $296 million compared to $356 million in Q2. Its chip plants turned around last year's losses to gain $382 million this time, likely due in part to its sensors appearing in a large number of various company's DSLRs. Its own imaging division underperformed a bit compared to last quarter but still made a small gain, while its gaming, music and picture businesses each made small gains. Finally, while home entertainment products like TVs and home theater systems still lost $203 million, which is still a big improvement over Q2 2011's dismal figure.

The company is projecting a slight drop in revenue for its fiscal year ending in March 2013, to $83 billion compared to August's forecast.

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Filed under: Cellphones, Desktops, Cameras, Home Entertainment, Tablets, Sony