Sony Financials: PS4 Shipments Reach 63.3 Million Lifetime, Operating Income Drops 60%

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.

Sony has now shipped 63.3 million PlayStation 4 systems worldwide, the company announced today as part of its latest earnings report for its fiscal first quarter.

In total recorded music revenue, Sony Music reported ¥99,822 million ($904.3 million).

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According to Sony, this was due to the lack of a "highly profitable first party titles". Sony even took a almost $1 billion writedown at its movie unit past year.

The surge in profit reflected the recovery for image sensors from damage from an quake sustained a year ago, said the company.

Earnings per share grew to 62.70 yen or $0.56 from 16.44 yen previous year. On the other hand, digital download revenue fell 22.1% to $116.5 million.

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The company said noteworthy projects to watch during the summer are include Arcade Fire's Everything Now, Foo Fighters' Concrete and Gold, Foster the People's Sacred Hearts Club, French Montana's Jungle Rules, Kesha's Rainbow, LCD Soundsystem's American Dream, Old Dominion's Happy Endings, Laurent Voulzy's Belem and albums from David Gilmour and Indochine.

With three quarters to go in the fiscal year, Sony is already about a third of the way to its target of 500 billion yen in operating profit, which would be the highest in 20 years. That represents a 15.2 percent increase in revenue - which the company said primarily came from increases in its financial services and semiconductors segments - and a 282 percent increase in net income.

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

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For fiscal 2017, attributable net income was 73.3 billion yen or $654 million, operating income was 288.7 billion yen and sales and operating revenues were 7.60 trillion yen or $67.89 billion.


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