Sony Q1 Profit Doubles

TOKYO, July 26: At Sony
Corporation, profit for the first quarter doubled to $540 million, on revenues
of $16.1 billion, a 13.3 percent rise on Q1 2006, driven in part by strong
sales of the company’s digital cameras, as well as the theatrical performance
of Spider-Man 3.

Sony Pictures
Entertainment delivered a 13-percent increase in revenues to $1.9 billion
thanks to the worldwide theatrical performance of Spider-Man 3. The division also emerged from last year’s loss
as a result of higher sales in the home entertainment market as well as lower
theatrical marketing costs, posting an operating profit of $26 million.

Electronics segment sales
increased 11.6 percent to $11.6 billion, led by the Cyber-shot digital cameras,
BRAVIA LCD television sets and Handycam video cameras, and operating income
rose 77.3 percent to $684 million. In the Game segment, sales increased 60.5
percent to $1.6 billion, but the division’s loss widened to $237 million
because of strategic pricing of PS3 at points lower than its production cost.

For the year, Sony is
projecting a 6 percent increase in revenues to $73.9 billion with a net profit
of $2.7 billion.