IT&Software

Sony Music Revenue, Operating Income Up Double Digits In First Quarter

Sony Music Revenue, Operating Income Up Double Digits In First Quarter

It retained projections for net profit of 255 billion yen, more than triple that of the previous year when it wrote down the value of its USA film business, while operating profit is expected to surge 73.2 percent to reach the 500 billion yen goal. Past year saw the release of Uncharted 4: A Thief's End in this period. Sales grew 15% to ¥1.86 trillion (~$16.86 billion).

Sony shipped 3.5 million PlayStation 4 systems during its first fiscal quarter previous year.

The surge in profit reflected the recovery for image sensors from damage from an quake sustained a year ago, said the company. During the current quarter, restructuring charges, net, increased 0.7 billion yen year-on-year to 2.4 billion yen. As for the revenue, they marked a sharp drop due to the lack of the launch of important first party titles during this period.

- Streaming and downloads combined (total digital) produced $462.5 million (51.4 billion yen), up 8.7 percent from the $437.4 million (47.3 billion yen) garnered in the first quarter of 2016. The Kumamoto natural disaster that occurred in mid-April past year essentially shut down one of Sony's five imaging sensor factories, causing $1.03 billion in damages for the firm, according to its internal estimates. Other revenue, including licensing, merchandising, and live performances, saw a slight 9.6% increase to ¥14.883 million ($134.7 million).

Operating Income - 170 billion yen in operating income ($1.53 billion), up 5.88% from April's 180 billion yen ($1.62 billion) forecast.

Profits surge in Sony Corp's new quarterly financials, with key segments like the company's semiconductor arm which makes its lucrative image sensors, the video cameras segment, and its financial institution all seeing big jumps in net sales revenue of 41.1%, 27.3% and 30.3% year-over-year spikes respectively.

Meanwhile, Billboard calculates the overall music operations earnings before interest, taxes depreciation and amortization at $262.6 million (29.17 billion yen) a 48.3 percent increase over the prior year's first quarter EBITDA of $182 million (19.7 billion yen).