Sony Q2 Profit Soars; Lifts FY18 Earnings, Sales View
Nov 01, 2017, 00:51
Sony is expecting its first record group operating profit in 20 years for fiscal 2017, the company announced Tuesday, a comeback attributed to a balanced business model that generates income from wide-ranging operations that extend from electronics to finance.
Its net profit increased $1.11 billion (126.0 billion) year-on-year to $1.16 billion (130.9 billion yen), while operating profit gained $1.4 billion (158.5 billion yen) year-on-year to $1.81 billion (204.2 billion yen).
Tokyo-based Sony, which makes Bravia TVs, PlayStation 4 video-game consoles and Wyclef Jean recordings, recorded a July-September profit of 130.9 billion yen ($1.2 billion), up from 4.8 billion yen reported past year. The operation includes recorded music, publishing and the Japanese visual media and videogame unit, which is included in Sony Music Entertainment Japan.
Quarterly revenues surged by over 22% to ¥2.1tn versus analysts' forecasts of ¥1.86n. This significant increase was primarily due to the impact of foreign exchange rates and an increase in Game & Network Services segment sales. Earnings per share grew to 101.35 yen or $0.90 from 3.76 yen past year.
Music also continued to be profitable for Sony, with operating income nearly doubling to $287 million (￥3.25 billion) on sales of $1.83 billion (￥206.6 billion), boosted by DJ Khaled'sGrateful album, strong sales of local artists in Japan and Fate/Grand Order, a mobile game popular in Japan.
Sony said its results benefited from the strong worldwide box office performance of "Spider-Man: Homecoming" and the popularity of a game application for mobile devices called "Fate/Grand Order".
But Sony said things were looking up at the movie division.
When asked on a couple of occasions on whether he would slot Notre Dame among the top four, Kelly steered clear of hypotheticals. The first college football playoff rankings of the 2017 season come out tonight at 7 p.m. on ESPN .
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It serves as a chance to get creative with costumes, decorate the house, carve pumpkins and most importantly, Trick-or-Treat. Teach children to dial 9-1-1 in an emergency, if suspicious activity is occurring or if tainted candy is suspected.
With Atletico Madrid in third place and yet to win in the Champions League this season, it could be a major scalp for both sides. Tuesday's match is a landmark for Fabregas, who makes his 100th Champions League appearance in the Stadio Olimpico.
According to reports , Justin and Selena were last seen grabbing Sunday morning breakfast at a café at Westlake Village . However, our insider says Bieber "did not play a factor" in Gomez's relationship with The Weeknd coming to an end.
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Therefore, the proper way to stack a cheeseburger is as follows (from top to bottom): bun, lettuce, tomato, cheese, patty, bun. GOOGLE'S CEO IS TACKLING what may turn out to be one of the biggest business problems he will ever face in his life.
During its most recent earnings call Nintendo said 7.63 million units have been shipped since the Switch went on sale in March. Nintendo shares have almost doubled since Switch's launch, although they slipped 0.25 percent yesterday to end at ￥42,870.
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The 2017 Galaxy Note 7 recall - due to exploding batteries - also dealt the firm a crippling blow to its mobile business. The prices of DRAM and NAND memory chips soared as demand outpaced tight supplies.