Sony increased its quarterly profit by 45%


Japanese corporation Sony increased its quarterly profit by 1.5 times or 45%. Earnings rose to 429 billion yen ($3.94 billion), or 330.77 yen per share, up from 295.9 billion yen, or 228.91 yen per share a year earlier. The growth in operating profit was 7.5% to 377 billion yen from 350.8 billion yen in the previous year. The company's revenue decreased by 10% to 2.422 trillion yen against 2.622 trillion yen. Sony increased its quarterly sales of video games and consoles by 72.6% to 790.6 billion yen. In the field of cinema, the figure increased by 16.4%. Revenues of the music business fell by 9.1%, revenue from the sale of semiconductors - by 20.6%. Revenue from the sale of smartphones fell by 80.3%. The division suffered an operating loss of 15.5 billion yen, although last year a profit of 15.8 billion yen was recorded. The company expects a profit of 835 billion yen before the end of this fiscal year. Fiscal year will end March 31, 2019. The forecast on operating profit amounted to 870 billion yen, on revenue - 8.5 trillion yen.

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