02 August, 2017
You can view the full financial results here.
Sony's Games and Network Services segment, which includes PlayStation 4 software and hardware sales along with PS Plus subscriptions and other services, had tame growth throughout the first quarter. Sony, however, noted that it would have increased by 1% under constant currency. For further details about the impact of foreign exchange rate fluctuations on sales and operating income (loss).
It retained projections for net profit of 255 billion yen, more than triple that of the previous year when it wrote down the value of its US film business, while operating profit is expected to surge 73.2 percent to reach the 500 billion yen goal.
Sony seems to be remastering not just how to make stuff consumers want to buy but how to make money as well.
- Streaming and downloads combined (total digital) produced $462.5 million (51.4 billion yen), up 8.7 percent from the $437.4 million (47.3 billion yen) garnered in the first quarter of 2016.
Spieth in charge; awesome Grace shoots 62 at British Open
Miller dinged the accomplishment in what was more than a backhanded compliment, pejoratively referring to the easier U.S. They include arguably the best round yet played, Johnny Miller's 63 to win at the barbaric Oakmont in the 1973 U.S.
Tokyo-based Sony posted a quarterly net profit of 80.87 billion yen ($730 million), up from 21.17 billion yen earned in the same period a year ago. "This amount is recorded as an operating expense and is included in operating income".
With the exception of the first quarter of 2014, when the music operation saw an extraordinary gain due to a re-measurement of Sony Music Entertainment's equity interest in the Orchard as it acquired the other half of the company, this quarter represents the overall music operation's best first fiscal quarter in years. This is up from the 60.4 million as revealed in June.
It's worth mentioning that these are sell-in numbers to retailers. Sony shipped 3.3 million units between April 1 and June 30.
The profitability of the game business is expected to improve in the second half of the business year as more titles get released, Sony said. Sony even took a almost $1 billion writedown at its movie unit previous year. Sonys fiscal first quarter profit almost quadrupled compared to a year ago, boosted by its lucrative image sensor and other businesses, highlighting a gradual recovery at the Japanese electronics and entertainment company. Sony expects to reach 78 million PlayStation 4 shipments by the end of its 2017 financial year. That represents an increase of 57.6 percent on the operating income of the corresponding period past year - $146.9 million (15.9 billion yen) - while revenue grew 18.8 percent from the $1.31 billion (141.9 billion yen) garnered in Q1 2016.