Sony Swings to $1 Billion Profit for Q3 2015

TOKYO: For the third quarter of 2015, Sony Corporation posted net income of 120.1 billion yen ($1 billion), a 33.5 percent gain.

Total revenues for the quarter came in at 2,580.8 billion yen ($21.5 billion), up just slightly at 0.5 percent. Operating income was 202.1 billion yen ($1.7 billion).

The Pictures segment—comprised of the motion pictures, television productions and media networks categories—saw sales increase 26.9 percent year-on-year to 262.1 billion yen ($2.18 billion), boosted by higher sales for movies. There were higher theatrical revenues, as the current quarter benefited from the strong worldwide theatrical performances of Spectre and Hotel Transylvania 2, partially offset by lower home entertainment revenues, as the same quarter of the previous fiscal year benefited from the home entertainment performances of 22 Jump Street and The Equalizer. Operating income increased 14.1 billion yen year-on-year to 20.4 billion yen ($170 million).

For Mobile Communications, sales decreased 14.7 percent to 384.5 billion yen ($3.2 billion), due to a significant decrease in smartphone unit sales resulting from “a strategic decision not to pursue scale in order to improve profitability.” Operating income increased 13.8 billion yen year-on-year to 24.1 billion yen ($201 million).

The Game & Network Services segment posted a sales increase of 10.5 percent to 587.1 billion yen ($4.9 billion), thanks to PlayStation4.

Imaging Products & Solutions delivered sales of 191.9 billion yen ($1.6 billion), down 5 percent. Home Entertainment & Sound was down 4.3 percent in sales to 402.0 billion yen ($3.35 billion). The devices segment saw sales decrease 12.6 percent year-on-year to 249.9 billion yen ($2.08 billion). Music sales increased 8.2 percent to 181.2 billion yen ($1.5 billion).