Sony Profit Rises Due to PlayStation, Movie-Business Strength
January 29 2016 - 2:00AM
Dow Jones News
TOKYO—Sony Corp. said its fiscal third-quarter net profit rose
33.5% from a year earlier, thanks to strength from its PlayStation
business and movie unit.
The Japanese electronics and entertainment company said net
profit rose to ¥ 120.1 billion ($999.8 million) from ¥ 90 billion.
Analysts expected a profit of ¥ 91.7 billion.
Sony said strong sales of videogame titles for the
PlayStation—in addition to movies—compensated for weakness at its
struggling smartphone business. Its device unit, which includes
image sensors, recorded an operating loss of ¥ 11.7 billion as
image-sensor sales were hurt by the weakness in global demand for
smartphones and the unit's research-and-development efforts.
Sony's revenue during the quarter was ¥ 2.58 trillion, while
operating profit was ¥ 202.1 billion. Analysts expected revenue of
¥ 2.52 trillion and operating profit of ¥ 176.1 billion.
For the fiscal year ending in March, Sony kept its guidance
stable at a profit of ¥ 140 billion.
Sony has recently shown signs of recovery and growth at its
consumer-electronics business after years of struggles. Its
semiconductor unit has been leading the charge, as its image
sensors are used in an array of cameras and smartphones, including
Apple Inc.'s iPhones. Its PlayStation 4 videogame unit, meanwhile,
is besting those of rivals Microsoft Corp. and Nintendo Co.
Sony's smartphone arm remains a weak point, although the company
has told investors it will make the business profitable in the next
fiscal year.
Write to Takashi Mochizuki at takashi.mochizuki@wsj.com
(END) Dow Jones Newswires
January 29, 2016 01:45 ET (06:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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