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Higher phone part sales boost Sony profit in Q2

Higher phone part sales boost Sony profit in Q2

For the April-June quarter, Sony's operating profit almost tripled from a year before to 157.6 billion yen ($1.43 billion), a record for the first quarter.

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

The company attributed the increase in operating income and revenue to higher sales in recorded music and from its visual media and platform operation, which included strong performances of its Fate/Grand Order mobile game. The Minato, Tokyo-based conglomerate said that its sensor business is the biggest factor that benefitted its recent performance, having recovered from a massive quake that it suffered through in 2016.

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.

Company-wide, Sony Corp. reported net income of $722 million (809 billion yen) on sales of $16.59 billion (1.86 trillion yen).

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Marvel Announced 'Captain Marvel's Time Period & '90s Kids Are Gonna Freak Out
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Hugh Freeze Scandal: A Look at Ole Miss' Latest Debacle
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First-quarter sales jumped 15 percent to 1.85 trillion yen, prompting the electronics giant to raise its sales forecast for the year to 8.3 trillion yen from 8 trillion yen. During the current quarter, restructuring charges, net, increased 0.7 billion yen year-on-year to 2.4 billion yen.

- 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.

For the full business year, Sony raised its sales forecast to 8.3 trillion yen from the previous 8 trillion yen, with a weaker yen expected to boost exports.

Further, for fiscal 2018, the company continues to expect attributable net income of 255 billion yen, and operating income of 500 billion yen. This significant increase was primarily due to increases in Financial Services and Semiconductors segment sales.

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