Sony sees turnaround after net profit soared in April-June

Ahhh! It’s hideous

Ahhh! It’s hideous

Operating profit rose to ¥157.6 billion ($1.43 billion).

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).

For the current fiscal year, the company plans to distribute 18 million units of PlayStation 4 and PlayStation 4 Pro, with the goal of reaching 78 million consoles distributed on March 31, 2018. The latest earnings report for Sony is in and the news isn't great for the company.

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Japanese consumer electronics maker Sony Corp. Sonys fiscal first quarter profit almost quadrupled compared to a year ago, boosted by its lucrative image sensor and other businesses, highlighting a gradual recovery at the Japanese electronics and entertainment company. That represents an increase of 57.6 percent on the operating income of the corresponding period a year ago - $146.9 million (15.9 billion yen) - while revenue grew 18.8 percent from the $1.31 billion (141.9 billion yen) garnered in Q1 2016.

The company posted a quarterly net profit of ¥80.87 billion ($730 million), up from ¥21.17 billion in the same period a year ago.

Operating income in the same quarter of the previous fiscal year included a 20.3 billion yen impairment charge against long-lived assets resulting from the termination of development and manufacturing of certain high-functionality camera modules for external sale, as well as net charges of 13.6 billion yen in expenses resulting from the 2016 Kumamoto Earthquakes, both in the Semiconductors segment. On a constant currency basis, sales increased 14%. There was also a ¥2.4bn negative impact from foreign exchange rate fluctuations.

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Quarterly sales gained 15 percent to 1.86 trillion yen ($16.9 billion).

The profit surge comes mainly as Sony's image sensor business returned to stability having recovered from natural disaster damage sustained a year ago, the company said.

Sony's computer chip sector has also fared relatively well recently on the growth of image sensor sales for mobile products.

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