Filed under: GAMING | Tags: Electronic Arts, Games, Playstation 3, Sony, Sony Corp, Video game, Video game console, Xbox 360
Sony is forecasting its operating income will rise 20% this year, beating estimates, as the games division that makes PlayStation 3 consoles turns profitable. The company says operating profit will climb to $4.3 billion in year ending March 2009, some 13% higher than estimated. (Iwantmedia 5/14, http://www.bloomberg.com/apps/news?pid=20601205&sid=ak.7aKZP9R14 5/14)
PlayStation 3 video-game consoles are demonstrated in the Sony Corp. booth at the Tokyo Game Show 2007 in Chiba, Sept. 20, 2007. Photographer: Toshiyuki Aizawa/Bloomberg News
Electronic Arts reported an 84% increase in revenue from its video games, but still posted an overall loss in its fourth quarter. Analysts suggest the loss is due in part to high development costs, one-time charges and an as-yet-unfinished makeover of the company. Some though still expect the year could be a good one for EA because the company’s adjusted earnings beat street expectations. (
ClipSyndicate/Bloomberg 5/14, The New York Times/Associated Press 5/14, The Wall Street Journal 5/14)
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