Sony Posts Profit Increase in Q1

TOKYO: First-quarter financials at Sony Corporation show a 5.8 percent revenue boost to 1.8 trillion yen ($17.9 billion), with profit soaring from 3.1 billion yen ($30 million) in the year-ago period to 26.8 billion yen ($265 million), lifted by PS4 sales and stronger theatrical revenues at its U.S. studio operation.

At Sony Pictures Entertainment, revenues were up 18 percent to $1.9 billion, thanks in part to the theatrical revenues from The Amazing Spider-Man 2 and 22 Jump Street. Operating income more than doubled to $78 million.

While it showed improvement in its Q1 results, Sony Corporation is still expecting a fiscal 2015 loss of 50 billion yen ($486 million), down from last year's 128.4 billion yen ($1.2 billion) loss, on stable revenues of 7.8 trillion yen ($75.8 billion). Sony Pictures is forecast to see a 6-percent increase in revenues and a 25.9-percent increase in operating income.