Sony net profit soars in April-June quarter

Sony net profit soars in April-June quarter

Sony net profit soars in April-June quarter

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.

Sales and operating revenue - 1.858 trillion yen ($16.8 billion), up 15.2% year-over-year.

Japan's Sony Corp on Tuesday reported its highest-ever first-quarter operating profit, taking the electronics giant one step toward its highest annual profit in two decades on the back of robust sales of image sensors.

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

The semiconductor business was the biggest contributor to the earnings, turning from a year-earlier loss of 43.5 billion yen to a profit of 55.4 billion yen. 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).

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Launched in 2010, PlayStation Plus offers PlayStation 3, PlayStation 4, and PlayStation Vita owners free games - which remain accessible only so long as the subscription remains active - and discounts on other titles plus 10GB of remote storage for game saves.

- Streaming and downloads combined (total digital) produced $462.5 million (51.4 billion yen), up 8.7 percent from the $437.4 million (47.3 billion yen) garnered in the first quarter of 2016. Other revenue, including licensing, merchandising, and live performances, saw a slight 9.6% increase to ¥14.883 million ($134.7 million).

For the current fiscal year, the company plans to distribute 18 million units of PlayStation 4 and PlayStation 4 Pro, with the goal of reaching 78 million consoles distributed on March 31, 2018. Television Productions sales increased significantly, primarily due to higher licensing revenue for USA series such as The Last Tycoon and Better Call Saul.

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

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