losangelesnewstoday.com
losangelesnewstoday.com December 14, 2017


Sony Q1 Profit Climbs; Backs FY18 Profit View, Lifts Sales Forecast

02 August 2017, 12:39 | Dawn Berry

Sony hikes PlayStation Plus fees by a quarter

The Sims 4

The Tokyo-based tech giant also said its operating profit had risen nearly threefold in the recording period to 157.61 billion yen, up 15.2 percent and based on sales of 1.86 trillion yen. A year ago saw the release of Uncharted 4: A Thief's End in this period.

Sony Corp. said Tuesday its group net profit in the April to June quarter almost quadrupled from a year earlier to 80.87 billion yen ($730 million) mainly on the back of a recovery in its semiconductor business.

Earnings per share grew to 62.70 yen or $0.56 from 16.44 yen a year ago.

With the exception of the first quarter of 2014, when the music operation saw an extraordinary gain due to a re-measurement of Sony Music Entertainment's equity interest in the Orchard as it acquired the other half of the company, this quarter represents the overall music operation's best first fiscal quarter in years. Sales also experienced a 17% increase on a constant currency basis over last year's ¥141.9 billion ($1.29 billion). Income decreased significantly due to the lack of any highly profitable first party game launched during the quarter.

Teavana Closing Stores: All 379 Locations to Shutter
More than a dozen stores have closed at the almost 3-year-old, $315 million mall since its grand opening in October 2014. The 3,300 employees affected by the closures have been encouraged to apply for positions at Starbucks stores.

The semiconductor business' profit in the three-month period stood at 55.4 billion yen, turning around from a 43.5 billion yen loss a year earlier when its manufacturing plant in southwestern Japan was hit by major earthquakes. Other revenue, including licensing, merchandising, and live performances, saw a slight 9.6% increase to ¥14.883 million ($134.7 million).

- 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.

The result suggests Sony is on track to reach its goal of an operating profit of 500 billion yen for all of fiscal 2017 ending next March, as years of restructuring pay off. Television Productions sales increased significantly, primarily due to higher licensing revenue for USA series such as The Last Tycoon and Better Call Saul.



Other News

Trending Now

Polish Senate approves controversial Supreme Court reform bill
Only the country's president now stands in the way of what critics have called a move to authoritarianism. Critics say the legislation would erode the independence of the courts and defy the principles of the EU.

Legendary Pokemon Go Coming Saturday
The challenges will come in a set of three, with the first kicking off at 5pm BST and lasting for around thirty minutes. Players in the United Kingdom will also be able to participate in a different event hosted in the city of Chester.

ASUS to launch three ZenFone 4 series phones next month
As per the GFXBench listing , the ZenFone 4 Selfie sports a 5.5-inch full-HD display with a screen resolution 1920 x 1080 pixels. But now, the time has come and Asus has chose to launch its new Asus Zenfone 4 smartphone with a number of its other variants.

What Nintendo's Online Mobile App Can and Cannot Do
The app screen will only show you and nobody else in the room until you disable the firewall or switch to another method. The other two Splatoon 2 amiibo are sold out on amazon, but still in stock at bestbuy.com at the regular $12.99 price.

First human case of West Nile virus confirmed in both Iowa & Illinois
New Orleans officials today announced mosquito samples collected in the city tested positive for the pathogen. Drain standing water in yards that can collect in old tires, potted plant trays, pet dishes, toys or buckets.

Man Stores Dead Girlfriend's Body In Freezer, New Woman Assumes Her Identity
According to WKBN , police think the body, which has not been officially identified, was moved from Youngstown to Campbell. Arturo Novoa (left), 31, and Katrina Layton (right), 34, face charges in connection with a body found in a freezer.

Anne Hathaway in Talks to Replace Amy Schumer in 'Barbie' Movie
As previously reported , Schumer, 36, parted ways with the film in March due to other projects on the horizon. Sony has been working to give a new and modern spin to Barbie (the brand has been around for 50 years).

Confirmed: Samsung Galaxy Note 8 Will be Officially Announced on August 23
For all this, the company could price Euro 999, which is approximately Rs 70,000, added the report. The sensors are said to be a 12MP wide-angle lens along with a 13MP telephoto lens at the back.

Israel, Jordan deal with diplomatic crisis after embassy attack
The guard then shot the Jordanian worker and the Jordanian landlord standing next to him, the public security directorate said. Jordan has called for the removal of the metal detectors and thousands of Jordanians have protested against the Israeli move.

Kuwait Cuts Number of Iranian Diplomats in Country from 19 to 4
Kuwait has made a decision to shut down Iran's cultural attaché office in the country and reduce the number of Iranian diplomats. The cell was convicted by a lower court early past year but acquitted on appeal months later and set free.