Sony returns to profit in first quarterBusiness | 26 Apr 2019 3:42 pm
Japanese entertainment and electronics company Sony Corp. has reverted to profitability for the quarter through March, boosted by robust demand for game software and network services, as well as gains from Spotify.
Sony reported an 87.9 billion yen (US$787 million) January-March profit today, a reversal from the 13.3 billion yen loss racked up the previous year.
Quarterly sales totaled 2.1 trillion yen (US$19 billion), up by 9 percent from 1.9 trillion yen.
Also helping the bottom line was its semiconductors business, but the mobile phone operations continued to lag, according to Tokyo-based Sony.
Sony’s film division saw a sales dip because of the strong performance of “Jumanji: Welcome to the Jungle” and “Spider-Man: Homecoming” the previous year. Such works contributed this year in television licensing and home entertainment sales.-AP