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Sony quarterly profit rises on games, financial services
TOKYO – Japanese electronics and entertainment company Sony Corp.’s net profit rose 32 per cent in the last quarter, helped by healthy video game sales and its financial services business, the company said Tuesday.
Tokyo-based Sony’s profit totalled 173 billion yen ($1.5 billion) in July-September, up from 131 billion yen the year before.
Quarterly sales totalled 2.18 trillion yen ($19.3 billion), up from 2.06 trillion yen.
Sony’s popular mobile-game application “Fate Grand Order” and favourable revenue in Sony’s insurance business helped boost profits, the maker of PlayStation video game machines said.
Robust image sensor sales of image sensors also helped offset restructuring costs in its movies division, the studio behind the Spider-Man films, and falling smartphone sales in Europe and Latin America.
In recent quarters, Sony’s PlayStation 4 video game operations, especially software sales, have been doing well.
Sony raised its full year profit forecast through March to 705 billion yen ($6.3 billion) from an earlier 500 billion yen ($4.4 billion).
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Yuri Kageyama is on Twitter at https://twitter.com/yurikageyama
On Instagram at https://www.instagram.com/yurikageyama/?hl=en
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