Technology

Sony's operating profit triples to record for April-June

Sony's operating profit triples to record for April-June”

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 us dollars).

The profit surge comes mainly as Sony's image sensor business returned to stability having recovered from natural disaster damage sustained a year ago, the company said.

One of the major growth areas for Sony imaging sensors is in dual-camera smartphones, particularly those targeting the booming Chinese market. Notably, Sony Interactive Entertainment predicts to ship 18 million units, which means that the company expects lifetime PS4 shipments to reach 78 million by the end of March.

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Quarterly operating profit easily topped a consensus estimate of 133 billion yen.

The results are bound to please investors, who last week drove Sony's shares to a year-to-date high, betting that annual operating profit will eclipse the record 525 billion yen marked in fiscal 1997.

Operating Income - 170 billion yen in operating income ($1.53 billion), up 5.88% from April's 180 billion yen ($1.62 billion) forecast. With the launch of the PlayStation 4, though, PlayStation Plus went from a nice-to-have to a near-mandatory requirement, with Sony choosing to lock online multiplayer for the majority of titles behind the subscription wall - meaning without paying for a PlayStation Plus subscription, you're relegated to a single-player experience.

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The surge in profit reflected the recovery for image sensors from damage from an natural disaster sustained previous year, said the company.

Five years ago, after seeing losses of $2.9 billion, Sony announced that it would be focusing its efforts on dominating three things: games, mobile, and image sensors.

Other music revenue - including synchronization, merchandising and live music promotions - totaled $134 million (14.88 billion yen), a 15.1% increase. Sony says its profit jump can be attributed to healthy recovery of its image sensor factories.

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