Sony's Snoopy, Sensors, and a Trillion Yen Illusion: Q3 FY2025 earnings - 2.5.2026 (052)

You would be forgiven for panicking after seeing "Net Loss: 1 Trillion Yen" on Sony’s earnings print. But before you sell, tune in. In this episode of Earnings Unscripted, Susie and Miro dissect why that terrifying headline is actually a massive accounting illusion caused by the Financial Services spin-off, and why the underlying business actually hit record operating profits.We dig into the fascinating "asset-light" transformation happening at Sony. From a major strategic retreat in TVs (handing operations to Chinese giant TCL) to acquiring 80% of "Peanuts" (yes, Snoopy), Sony is fundamentally changing its DNA.We also unpack the pivot in the Gaming segment, where the focus is shifting from selling boxes to monetizing the install base as memory costs surge. Is this the end of Sony the manufacturer and the rise of Sony the digital landlord? 🎧📈