Sony Records $1.43 Billion In Profit From April To June 2017

Ken Copeland
August 1, 2017

Sales and operating revenues climbed 15.2 percent to 1.86 trillion yen or $16.59 billion from prior year's 1.61 trillion yen.

Operating income increased 101.4 billion yen year-on-year to 157.6 billion yen. It's just accepted that Sony's console is the most ubiquitous one around, and concrete figures prove that this is definitely true: Business Insider reports that the PS4 is winning the console wars, and that it's doing it in a landslide.

The consumer electronics arm of Sony also saw a return to profits with a focus on television sets and smartphones. Lower hardware prices wasn't the only contributing factor here, however, as Sony also noted "the absence of the significant contribution of a highly profitable first-party software title" compared to the same period past year.

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For the April-June quarter, Sony's operating profit almost tripled from a year before to 157.6 billion yen ($1.43 billion), a record for the first quarter.

Despite the drop in PS4 sales, the Games and Network division saw an increase in sales by 5.4 percent year on year thanks to PlayStation VR and digital game sales. Television Productions sales increased significantly, primarily due to higher licensing revenue for USA series such as The Last Tycoon and Better Call Saul. Sales also experienced a 17% increase on a constant currency basis over last year's ¥141.9 billion ($1.29 billion). Sony expects to reach 78 million PlayStation 4 shipments by the end of its 2017 financial year. The increase in sales on a US dollar basis was primarily due to higher sales in Television Productions and Media Networks, partially offset by lower sales in Motion Pictures.

The decline in earnings happened due to the price cut on hardware and the negative impact of the exchange rate between yen and dollar. Sony, of course, released Uncharted 4 in May 2016, which has since gone on to sell 8.7m units as of December 2016. But Sony is playing things safe, cutting its annual image sensor sales estimates by 2.9%, saying that Chinese phone manufacturers are shifting toward cheaper components in lower-priced phones.

Other reports by Guamnewswatch

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