Sony reported that its profit rose more than 3% in the last quarter, as production costs were affected by the COVID-19 lockdown in Shanghai and the exit of video games as it decreased. disease limits elsewhere.
TOKYO (AP) — Sony’s profits rose 3% in the last quarter, a slowdown in production from the COVID-19 lockdown in Shanghai and a shift away from video games as virus restrictions eased elsewhere. location.
The income of Sony Corp. in Tokyo in April-June generated 218 billion yen ($1.6 billion), up from 212 billion yen a year earlier, the Japanese electronics and entertainment company said on Friday.
Quarterly sales rose 2% to 2.31 million yen ($17.4 billion), due to strong demand for Sony’s music, including for Harry Styles‘ “Harry’s House” and Doja Cat’s “Planet Her. “
Among the best characters in movies is “Morbius,” a movie based on the Marvel Comics hero. But Sony is hoping “Bullet Train,” starring Brad Pitt and slated for release in August, will do well at the box office.
Sony, which makes PlayStation video game consoles, Bravia TVs and Columbia Pictures films, said sales from its music streaming service rose in the quarter. Despite concerns about the global economic slowdown, business activity was expected to remain stable, said Chief Financial Officer Hiroki Totoki.
Sales decline in the video game and technology services sector. One of the reasons is that, while the restrictions related to the coronavirus disease were reduced, people’s games were reduced but they are going out, said Totoki.
In addition, the lack of computer toys has slowed down the production of Sony’s PlayStation 5 device.
Sony’s sales fell in the latest quarter, as software development costs rose. Sony has admitted that slow downloads may dampen the enthusiasm of gamers for the PlayStation 5. But the company is funding big games. is set for release later in the year to revive sales.
Sony said it expects its fiscal year total revenue to fall to 800 billion yen ($6 billion) from last year’s 882 billion yen.
Yuri Kageyama is on Twitter https://twitter.com/yurikageyama
Sony’s logo is seen at its showroom in Tokyo, Friday, July 29, 2022. Sony’s profits rose 3% in the last quarter, despite production disruptions from COVID -19 lockdown in Shanghai and the move away from video games due to epidemics. easy elsewhere. (AP Photo/Shuji Kajiyama)
Sony’s logo is seen at its showroom in Tokyo, Friday, July 29, 2022. Sony’s profits rose 3% in the last quarter, despite production disruptions from COVID -19 lockdown in Shanghai and the move away from video games due to epidemics. easy elsewhere. (AP Photo/Shuji Kajiyama)
