The Sony Q1 2012 results are out and the writing on the wall is in red sharpie. Sony had over $19 billion in sales during the first quarter but managed to lose $312 million.
This news is hurtful to the company but is expected since the giant announced their plans to transition away from certain areas and focus on others. The good news, that we heard about before, is that the PlayStation and all studios connected to it will not be effected by the transition.
That may not stick, though. While that is great news to hear, the decision may be overturned after the Q1 results have the gaming department underperforming and dragging behind with a -3.5% income against Q1 2011.
Still, a $312 million loss is not easy to swallow. You can read the entire financial report in this PDF.