The PS4 Has Now Shipped 63.3 Million Units, Sony's Revenue Trending Upward

Bill Rogers
August 1, 2017

The recovery of the image sensor business from last year's natural disaster saw the operation make a profit of $500 million.

In an email sent to users late last week, Sony confirmed that it is to hike the price of a PlayStation Plus membership from the end of August.

The consumer electronics business was also profitable as it focused on high-end television sets and smartphones without seeking to increase in scale. (SON.L, SNE) reported Tuesday a significant increase in its first quarter profit, reflecting a sale gain, the absence of prior year charge as well as higher sales.

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.

The company posted a quarterly net profit of ¥80.87 billion ($730 million), up from ¥21.17 billion in the same period past year.

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 USA dollars). That represents a 15.2 percent increase in revenue - which the company said primarily came from increases in its financial services and semiconductors segments - and a 282 percent increase in net income. During the current quarter, restructuring charges, net, increased 0.7 billion yen year-on-year to 2.4 billion yen.

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"Sales increased 5.4% year-on-year (a 4% increase on a constant currency basis) to 348.1 billion yen". 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.

Sony is sticking to its forecast of $4.53 billion profit for the year to March 2018.

The decline in earnings happened due to the price cut on hardware and the negative impact of the exchange rate between yen and dollar.

As Business Insider notes, there are several reasons why the PS4 found its way to the top and stayed there: It was the cheapest console at launch, it's a versatile machine that can do a lot more than just play games, and it has some strong exclusive titles.

The profit surge is mainly due to Sony's image sensor business.

Other reports by TheSundaySentinel

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