Sony Posts Revenue, Profit Gains

Sony Corporation delivered better-than-expected financials for the second quarter of 2018, with a 6-percent revenue gain to 2.2 trillion yen ($19.6 billion) and a net income of 173 billion yen ($1.5 billion), driven by its gaming business.

Sony Pictures delivered Q2 revenues of 240.9 billion yen ($2.1 billion), down 3 percent, and an operating income of 23.5 billion yen ($208 million). The studio delivered lower worldwide theatrical revenues but posted increased television licensing revenues.

For the full year, Sony has upgraded its revenue forecast to 8.7 trillion yen ($77 billion) and is projecting a net profit of 705 billion yen ($6.2 billion), a 41-percent increase from its previous full-year estimate. The conglomerate is also forecasting better results at Sony Pictures.