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Sony net profit soars in April-June quarter

Yeah. I’d look that miserable too in that weather

Streaming generated $346 million (38.44 billion yen), an increase of 25.4%, while physical sales grew to $301.8 million, up 16.2%. Previous year saw the release of Uncharted 4: A Thief's End in this period.

"Sales increased 5.4% year-on-year (a 4% increase on a constant currency basis) to 348.1 billion yen".

Sony Corporation on Tuesday announced its consolidated financial results for the second quarter of the calendar year, i.e. the first quarter of its 2017 fiscal year, boasting a massive surge in profits driven by its recovering imaging sensor business.

Meanwhile, the PlayStation Network now has 70 million monthly subscribers, giving Sony a steady revenue stream. Income decreased significantly due to the lack of any highly profitable first party game launched during the quarter. Sony Interactive Entertainment shipped 3.3 million units during the latest quarter (which is a slight drop year-on-year, from 3.5 million in the same quarter of the past fiscal year).

The recovery of the image sensor business from last year's natural disaster saw the operation make a profit of $500 million. During the current quarter, restructuring charges, net, increased 0.7 billion yen year-on-year to 2.4 billion yen.

Sony kept its net profit forecast at 255 billion yen, more than triple that from a year earlier, and said it expects its operating profit to leap 73.2 percent to 500 billion yen, which will be the highest in nearly 20 years.

Unlike other record music revenue categories at Sony Music, downloads (digital downloads and mobile) experienced a sharp decline. He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017. 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. That is a significant improvement from 2016's fiscal first quarter, when the company produced net income of $196 million (21.2 billion yen) on revenues of or $14.9 billion (1.613 trillion yen).