Sony Operating Profit Soars on ‘Significant’ Increases in PlayStation Segment

Sony shipped 2.6 million TVs in Q1 ended June 30, a slight increase from the 2.5 million sets in the same year-earlier quarter, the company reported Tuesday. Sony left unchanged its April forecast that it will ship 11.5 million TVs this fiscal year, which would be a 7 percent year-on-year decline. The rise in TV unit sales, plus increases in home audio and video sales resulting from strong performance in headphones, helped push revenue in Sony’s core Home Entertainment & Sound sector 6 percent higher to $2.4 billion ($1 = 111 yen). Operating profit in the sector declined 23 percent to $156 million because of an increase in marketing and R&D expenses. Sony’s overall Q1 operating profit soared 24 percent to $1.7 billion on “significant” increases in the Games & Network Services segment. Revenue in that sector jumped 36 percent to $4.2 billion, while operating profit nearly quadrupled to $748.8 million. Though Sony shipped 3.2 million PS4 consoles in the quarter, 100,000 fewer than a year earlier, it raised its forecast for the year by a million units to 17 million.