Sony Music Revenue, Operating Income Up Double Digits In First Quarter

The Sims 4

For the first quarter, net income attributable to stockholders climbed to 80.9 billion yen or $722 million from last year's 21.2 billion yen.

The movie business is looking up after last year's massive write-down.

On Tuesday, Sony said operating profit rose nearly three-fold in April-June to 157.61 billion yen ($1.43 billion), exceeding the previous first-quarter record by about 30 percent, and beating analyst estimates by a similar degree. The semiconductor and imaging business has, according to the company, offset the slightly weaker Gaming and Networking division.

- Physical sales remained strong for recorded music, growing to $301.8 million (33.53 billion yen), up 16.2 percent from the corresponding period past year, when it totaled $267 million (28.9 billion yen). Television Productions sales increased significantly, primarily due to higher licensing revenue for USA series such as The Last Tycoon and Better Call Saul.

But Sony trimmed its full-year sales outlook for sensors, issued just three months ago, by 2.9 percent as Chinese phone makers steer away from building the high-end handsets that Sony typically targets. The increase in sales on a USA dollar basis was primarily due to higher sales in Television Productions and Media Networks, partially offset by lower sales in Motion Pictures.

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The profitability of the game business is expected to improve in the second half of the business year as more titles get released, Sony said.

Its Sony Music division reported an operating income of ¥25 billion ($227 million), up 57.6% over Q1 2016.

For this current fiscal year, Sony expects to ship 18 million PS4s, down from 20 million in the previous fiscal year.

Sony's computer chip sector has also fared relatively well recently on the growth of image sensor sales for mobile products. The figure also surpassed the company's all-time record quarterly profit of $1.1 billion posted in 2007, indicating that its operations may be set to experience a historic year in terms of income.

- Digital download revenue, meanwhile, fell 22.1 percent to $116.5 million (12.94 billion yen), down from the $153.66 million (16.6 billion yen) tallied in the first quarter of 2016.

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