KXIP vs KKR Live Score

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.

The Japanese electronics and entertainment giant's operating profit almost tripled to 157.61 billion yen to hit a record high on a first-quarter basis.

- Music publishing, which consists of Sony/ATV, Sony Japan publishing and its percentage of EMI Music Publishing, produced revenues of $151.7 million (16.86 billion yen), a 7.7 percent increase from last year's corresponding period, when revenue totaled $144.8 million (15.65 billion yen). As announced previously, Sony expects to ship 18 million PS4 consoles overall this fiscal year, down from 20 million the year prior.

However, sales and operating revenue are now expected to grow 9.2 percent from past year to 8.3 trillion yen, higher than previous forecast of a growth of 5.2 percent to 8 trillion yen.

The latest profit results are great news for a company that was reeling past year after powerful earthquakes in Japan caused severe damage to Sony's sensor production facilities.

Home entertainment products benefitted from a shift toward high-end TV models with better margins. The company said the PlayStation VR headset continued to sell well, but did not release figures. Sales also experienced a 17% increase on a constant currency basis over last year's ¥141.9 billion ($1.29 billion). Operating profit rose to ¥157.6 billion ($1.43 billion).

The surge in profit reflected the recovery for image sensors from damage from an natural disaster sustained previous year, said the company.

Operating Income - 170 billion yen in operating income ($1.53 billion), up 5.88% from April's 180 billion yen ($1.62 billion) forecast.

Meanwhile, the PlayStation Network now has 70 million monthly subscribers, giving Sony a steady revenue stream.

"The volume of smartphone shipments may not grow", Yoshida said, "but the quality of smartphones will continue to improve as they become an essential piece of social infrastructure in countries like China".


COMMENTS