Sony's fiscal first quarter profit almost quadrupled from a year earlier, boosted by its lucrative image sensor and other businesses and highlighting a gradual recovery at the Japanese electronics and entertainment company. Income decreased significantly due to the lack of any highly profitable first party game launched during the quarter. The combined Sony/ATV and EMI catalog has grown to 4.49 million songs, versus 4.21 million songs by the end of its prior fiscal year.
Operating income spiked by 180.5% YoY to 157.6 billion yen ($1.42 billion), driven by big turnaround in segments like semiconductors, which saw astronomical operating income growth by 227% year-over-year, as well as the Imaging Products and Solutions segment, which saw an equally impressive YoY spike of 209%.
Sony Pictures Entertainment saw sales increase 12.3 percent year-on-year to 205.8 billion yen ($1.9 billion). He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017.
Operating Income - 170 billion yen in operating income ($1.53 billion), up 5.88% from April's 180 billion yen ($1.62 billion) forecast.
Rory McIlroy, caddie JP Fitzgerald reportedly part ways
It appears caddie JP Fitzgerald has paid the price for Rory McIlroy's failure to keep pace with golf's American agenda setter. Fitzgerald, ending a partnership that took the Northern Irishman to four Major titles and the top of the world rankings.
Sony has confirmed that it is raising the price of PlayStation Plus, its subscription programme which enables PlayStation 4 online multiplayer access, cloud save storage and offers free-to-download games each month, with the annual membership fee jumping a quarter to £49.99 in the UK.
Sony also forecast previously a drop in its sales for its flagship, yet quickly maturing game console PlayStation 4.
The surge in profit reflected the recovery for image sensors from damage from an quake sustained past year, said the company. The Kumamoto natural disaster that occurred in mid-April previous 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.
Sony expects semiconductors to continue to be a cash cow, as demand for image sensors will grow with improving smartphone specifications.