From IGN:

The first batch of bad news for the company arrived with the announcement of the first quarter financial results which showed the company as a whole lost $578 million in the first quarter of the current fiscal year as opposed to a loss of $492 million for the same period last fiscal year.If this wasn’t bad enough, the company revealed that its games division — the most profitable part of the Sony corporate empire — was expected to post a loss of ?100 billion or $875 million at current exchange rates over the coming fiscal year. Sony attributes this loss to the start-up costs needed to develop the PlayStation 3. In contrast, for the current fiscal quarter, the games division posted operating income of ?8.7 billion ($75 million) and sales of ?958.6 billion ($8.2 billion).

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