Technology

Sony profits spike with strong segment growth

Sony profits spike with strong segment growth”

Sony Corp. said on Tuesday that its group net profit in the three months to June rose nearly fourfold from a year earlier to 80.87 billion yen (730 million USA dollars). Sony Interactive Entertainment shipped 3.3 million units during the latest quarter (which is a slight drop year-on-year, from 3.5 million in the same quarter of the past fiscal year). Notably, all revenue and income figures for the whole company show a very substantial increase year-on-year. The Minato, Tokyo-based conglomerate said that its sensor business is the biggest factor that benefitted its recent performance, having recovered from a massive natural disaster that it suffered through in 2016.

The recovery of the image sensor business from last year's quake saw the operation make a profit of $500 million.

For fiscal 2017, attributable net income was 73.3 billion yen or $654 million, operating income was 288.7 billion yen and sales and operating revenues were 7.60 trillion yen or $67.89 billion. Under the new pricing structure, the cost of an annual membership will increase by a quarter from its current £39.99 level to £49.99; the cost of a quarterly membership will increase by the same proportion, going from £14.99 to £19.99, while the fee for those choosing to play monthly is to go from £5.99 to £6.99. Sales were up 15.2 percent to 1.86 trillion yen.

"When we marked strong earnings 10 years ago or 20 years ago, we always suffered sharp setbacks in the following year and onwards". He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017.

It announced that the company's operating profit for the quarter jumped a massive 180.5% over the previous year, and net income jumped a staggering 281.4% to $564 million.

Unlike other record music revenue categories at Sony Music, downloads (digital downloads and mobile) experienced a sharp decline.

Meanwhile, the PlayStation Network now has 70 million monthly subscribers, giving Sony a steady revenue stream. This significant increase was primarily due to increases in Financial Services and Semiconductors segment sales.



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