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Sony quarterly profit rises on games, financial services

Japanese electronics and entertainment company Sony Corp. has recorded a 32 percent rise in fiscal second quarter profit on its healthy video game and financial services businesses

AP Reported by: AP
Published on: October 30, 2018 13:00 IST
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Image Source : AP Sony quarterly profit rises on games, financial services

TOKYO (AP) — Japanese electronics and entertainment company Sony Corp. has recorded a 32 percent rise in fiscal second quarter profit on its healthy video game and financial services businesses.

Tokyo-based Sony reported Tuesday a July-September profit of 173 billion yen ($1.5 billion), up from 131 billion yen the previous year.

Quarterly sales totaled 2.18 trillion yen ($19.3 billion), up from 2.06 trillion yen.

Its popular mobile-game application "Fate Grand Order" and favorable revenue in Sony's insurance business helped boost profits, according to the maker of PlayStation video game machines.

But it says falling smartphone sales in Europe and Latin America helped bring results lower.

Sony raised its full year profit forecast through March to 705 billion yen ($6.3 billion) from an earlier 500 billion yen ($4.4 billion).

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
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