Sony had a good quarter – sales increased 15.2% year on year to JPY 1,858 billion ($16.8 billion) while operating income increased significantly to JPY 157.6 billion ($1.42 billion). The strong performance is largely due to the Financial Services and Semiconductor segments.
Sony Mobile shipped 3.4 million phones during the quarter, up from 3.1 million a year ago but down from 5.1 million reported back in February. The division brought in JPY 181.2 billion in sales ($1.64 billion) with an operating income of JPY 3.6 billion. That may be only $32 million, but a year ago the division barely broke even.
Revenue from PlayStation 4 consoles fell due to the price cut from late last year. However, that was offset by increased sales of games (including ones sold through PSN). Money from the PlayStation VR also helped, but Sony is mum on the exact numbers. This division posted an operating income of JPY 17.7 billion ($159.8 million), a steep 59.7% drop from a year ago even though sales increased 5.4% (to JPY 348.1 billion, $3.14 billion).
Sony’s Semiconductor business shone, sales went up 41.4% to JPY 204.3 billion ($1.84 billion) on which it made an operating income of JPY 55.4 billion ($500 million). This boost was primarily driven by sales of smartphone image sensors. Also, Sony sold Sony Electronics Hunan (a camera module manufacturer) for JPY 27.5 billion ($248 million).
Imaging Products (the digital camera maker) saw a 27.3% increase in sales and a healthy boost in income, thanks to a strong performance of the high-end models. Sony sold slightly fewer TVs but profits went up as the product mix shifted towards the premium models.
Sony Pictures posted a small loss, but it has a few potential blockbusters in the chamber (Spider-Man: Homecoming came out too late to affect this quarter). Television Production sales increased “significantly” thanks to Better Call Saul and The Last Tycoon.
Sony Music sales and income went up and one of the reasons is quite curious – the mobile game Fate/Grand Order, which boasts an impressive (and apparently desirable) soundtrack. Streaming revenues increased.