PS4 Shipments Reach 63.3 Million Lifetime, Operating Income Drops 60% — Sony Financials

Lynne Hanson
August 1, 2017

Sony even took a almost $1 billion write-down at its movie unit past year.

1, an 80.9 billion yen ($735 million) April-June profit, up dramatically from 21.2 billion yen the same period a year ago.

Sony has confirmed that it is raising the price of PlayStation Plus, its subscription programme which enables PlayStation 4 online multiplayer access, cloud save storage and offers free-to-download games each month, with the annual membership fee jumping a quarter to £49.99 in the UK.

The box-office success of its "Spider-Man: Homecoming" film has also fueled hopes of a rise in earnings for Sony's pictures business, which is working through a restructuring plan.

It does not necessarily translate into units purchased by consumers.

Sony Corporation posted a spike in first-quarter operating income, which reached 157.6 billion yen ($1.43 billion), up 180.5 percent.

The results are bound to please investors, who last week drove Sony's shares to a year-to-date high, betting that annual operating profit will eclipse the record 525 billion yen marked in fiscal 1997.

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For the first quarter of 2017, Sony Music has reported an impressive 18.8% revenue gain year-over-year to ¥168.8 billion ($1.53 billion).

On Tuesday, Sony said operating profit rose nearly three-fold in April-June to 157.61 billion yen ($1.43 billion), exceeding the previous first-quarter record by about 30 percent, and beating analyst estimates by a similar degree.

That said, Sony's FY2017 forecast has been revised upward in both circumstances, with sales receiving a 4.8 per cent upward revision to ¥1,980bn due to a predicted positive impact of foreign exchange rates.

This would be the highest profit since Sony's best-ever year - the FY to the end of March 1998 - when it made profits of $4.77 million.

Revenue also increased in the game and network services business, which includes the popular PlayStation console and software titles.

The profit surge comes mainly as Sony's image sensor business returned to stability having recovered from quake damage sustained a year ago, the company said.

The profit surge is mainly due to Sony's image sensor business.

Other reports by TheDailyFarc

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