Sony reports 24 pct jump in Q1 operating profit, beats estimates

PS4 Expected To Have Outsold Lifetime Sales Of PS3 Within Months

The result is the first since Sony pledged to maintain high profit levels after beating its 1998 annual earnings record a year ago.

The figure is down from the same period last year, but Sony's forecast for this year predicts that sales will be down by 3 million year-on-year, with total units sold in the vicinity of 16 million. The result compared with the JPY 145.23 billion average of eight analyst estimates compiled by Thomson Reuters I/B/E/S. They are up 36%, from 348.1 billion yen for this time a year ago, to 472.1 billion yen for Q1 FY2018.

As pretty much every person and their dog owns a PlayStation 4 now it comes as no surprise that PS4 software sales were sky high bringing in 472.1 billion yen in this quarter which is up by over a billion yen year-on-year.

Under that strategy, the gaming business saw profit increase to JPY 83.5 billion in the three months ended June from JPY 17.7 billion a year earlier, as high-margin online software and new first-party titles such as "God of War" and "Detroit: Become Human" compensated for slowing sales of PlayStation 4 consoles. Sony's Spider-Man game arrives in a little over a month, and then there's Assassin's Creed: Odyssey, Battlefield V and Red Dead Redemption 2 all due for release in October.

Sony lifted its annual profit outlook for semiconductors by 20 percent to 120 billion yen, and for gaming by 32 percent to 250 billion yen.

Parent of MoviePass raises prices, cuts service; shares sink
The price increase will take effect "within the next 30 days", the company said in a news release. Implementation of additional tactics to prevent abuse of the MoviePass service.

Japanese game maker Nintendo Co. also reported strong profit growth Tuesday thanks to increased sales of games for its Nintendo Switch machine.

It also raised its sales forecast for the full year to 8.6 trillion yen, up from a previously projected 8.3 trillion yen.

Sony's semiconductor division - the beneficiary past year of a unit sale and insurance payouts - saw profit nearly half to 29.1 billion yen.

Increasing smartphone competition means Sony "may need to cut the smartphone business outlook further or revise the current midterm business plan", Totoki said. The average of 24 analyst estimates is 755 billion yen.

Related News:

  • Paris Jackson Responds to Rumor That She's Returning to Rehab

    Paris Jackson Responds to Rumor That She's Returning to Rehab

    One friend said that "She needs to get out of this whole system that she has been in since she was 13". As you may be aware, she did open about her guilt before, in her song titled Sober .

    Separation of migrant families a low point in White House: Ivanka Trump

    During the discussion, Trump explained why she recently chose to close her fashion business. "I don't think anybody does". The activities include doing "20 squats", listening to music, and meditating, she said.
    Trump may be the greatest free-trade president ever

    Trump may be the greatest free-trade president ever

    Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. The shrewdly targeted retaliation of European and other US trade partners has also proved inconvenient to the president.
  • Urban Meyer placed on paid administrative leave by Ohio State [reaction & analysis]

    Urban Meyer placed on paid administrative leave by Ohio State [reaction & analysis]

    The Smiths separated in June 2015 and divorced in 2016. "All the (coaches) wives knew", Courtney Smith told McMurphy. McMurphy posted the screenshots of those messages on Facebook, where he published his report Wednesday morning.

    Jose Mourinho laments lack of signings

    We started the game with nearly half of the players who are not even going to belong to our squad on August 9. I think he was just voicing that frustration.

    Two Americans cyclists among four dead in Tajikistan hit-and-run

    Another person was arrested and a damaged auto believed to have been involved was recovered. Three other cyclists in the group sustained light injuries and sought medical help.
  • Tristan Thompson punched Draymond Green outside LA club

    Tristan Thompson punched Draymond Green outside LA club

    We've got details on how the two National Basketball Association stars will likely spar again when the new season starts. The players got into a big fight earlier this month inside LA nightspot Delilah, multiple sources told BOSSIP .
    Korea Constructs New Missiles While Trump Claims Denuclearization Success

    Korea Constructs New Missiles While Trump Claims Denuclearization Success

    Just last week, satellite images emerged that appeared to show North Korea dismantling a key Sohae satellite launching station. The soldier's family had been notified, though it was not clear if his remains were among those found, Byrd said.

    Donald Trump: 'Collusion is not a crime'

    Legal experts say Giuliani and Trump have a point: There is no federal law or statue making campaign collusion a crime. He said there was no collusion .
  • Andy Murray beats Mackenzie McDonald in Washington Open

    Andy Murray beats Mackenzie McDonald in Washington Open

    Got to be careful what you say around these parts nowadays though #freespeech #fakenews", wrote Murray in his comment. I wasn't hitting the ball that cleanly. "I fought hard and I had to", Murray said. "Pumped to be back in the big W.
    Meghan Markle's father and half-sister spark backlash online

    Meghan Markle's father and half-sister spark backlash online

    Meghan Markle and Prince Harry , being the totally run-of-the-mill modern couple they are, have an official joint monogram . But it's over now, and the entire royal family has moved on to different things.
    New Google Pixel 3 XL images and specs leaked online

    New Google Pixel 3 XL images and specs leaked online

    Google is ditching the dual glass/brushed metal design on the back and is opting in for a glass panel from top to bottom. Though not confirmed, it is believed that the third-generation Pixel phones will sport a wireless charging option.


Most liked

Six dead in Zimbabwe on day of violence linked to election
Zanu-PF, in power since the country gained its independence 38 years ago, has won a two-thirds parliamentary majority. The Zimbabwe Electoral Commission is expected to announce nationwide results this afternoon.

White House trots out five top officials to reassure election safety
Trump has told advisers he is eager to meet with investigators to clear himself of wrongdoing, the people said. Trump has repeatedly termed the probe as "a hoax".

Financial fruit: Apple becomes 1st trillion-dollar company
Apple's stock has been buoyant ever since it released its fiscal Q3 earnings, which were mostly positive for the company. Apple hit the US$1 trillion mark when its shares reached an all-time high of US$207.05 around midday in NY (4am NZT).

This Week In Golf: Dustin Johnson Takes RBC Canadian Open
He said the most important aspect of his game that needed improvement, after the British Open disappointment, was his putting. He birdied three of his final six holes. "So that definitely boosted my confidence", he said.

Plane carrying over 100 people crashes in Mexico
Ninety-nine passengers, including nine children and two infants, as well as four crew members were on board, the airline said. The head of Mexico's civil aviation agency, Luis Gerardo Fonseca, said it could take months to know the cause of the crash.

Witnesses Testify Manafort Spent Thousands On Luxury Clothing
The US President's former campaign chairman, Paul Manafort , is to stand trial on tax evasion and bank fraud charges (file photo). Katzman was the manager for his father's tailoring business Alan Couture while Manafort was a customer there.

Thousands Evacuate due to Mendocino Fires
The practice of back-burning is seen as a last resort measure to stop the further spread of fire from particular areas. The fire was nearly 35 percent contained, and thousands of residents were allowed to return to their neighborhoods.

Facebook suspends more fake accounts ahead of US midterms
For example, they used virtual private networks and internet phone services, and paid third parties to run ads on their behalf. It said 2,600 people had expressed interest in the event, with 600 planning to attend the protest close to the White House.

"Honor Note 10 unveiled with 6.95" screen and 'GPU Turbo' tech
Chinese smartphone maker Huawei's sub-brand Honor is all set to launch its flagship smartphone - Honor Note 10 in China today. The smartphone will feature the GPU Turbo which will squeeze out better graphics and battery performance.

Jacksonville printing company concerned about 3D printed guns
The Trump administration reversed course, agreeing to allow Defense Distributed to publish the tutorials online. Gun control advocates welcomed the federal court's temporary restraining order against Defense Distribution.

Serie A Giants Consider Loan Deal For Wantaway Manchester United Star
He said: "Yes, that's what I want [to leave] but we will see what happens because we don't know". "It's an option. Well, we wait to see". "If I stay, I stay and I do what I did up until now".

Maguire, Schmeichel too valuable for Leicester to lose - Puel
If Maguire does seal a move to Manchester, then Leicester will reportedly look to replace him with Mina. However, Puel believes Maguire will stay at the King Power Stadium.

2 children, great-grandmother killed in Northern California wildfire
A police chief whose home was destroyed when fire tore through his Northern California city says he will continue to stay on duty. The deadly fire has destroyed 723 homes, three commercial structures and more than 5,000 structures are still threatened.

Rand Paul Announces He’ll Support Kavanaugh for Supreme Court
Rob Portman (R-Ohio) says Democrats ought to only request "relevant" Brett Kavanaugh records from his time in Bush White House. Paul had expressed some misgivings about the judge's views on collecting metadata and other libertarian hobby-horses.

Harley goes adventure-touring | Meet the Pan America 1250
Harley Davidson has announced that it will be launching a new adventure motorcycle, the Pan America , in 2020. Sales have fallen in the past year, and Harley-Davidson stock has declined 15 percent so far this year.