Sony reports huge 739% net income spike

Sony's bottom line net income sees a meteoric rise in its second quarter results.

@DeekeTweak
Published Tue, Oct 31 2017 11:01 AM CDT   |   Updated Tue, Nov 3 2020 11:53 AM CST

Sony Corp just announced its earnings for the three-month period from July to September, and the results show strong growth in key segments.

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Note: The following yen to USD conversions are in accordance to Sony's earnings filing that sees 113 yen = $1 USD.

Sony's latest financial report fro fiscal Q2'17 see the Japanese company enjoying a staggering 739% spike in YoY net income, or bottom-line income after taxes and expenditures, to $1.263 billion (142.8 billion yen). The company managed to deliver a meteoric 2600% jump in net income attributable to stockholders in the period to $1.158 billion (130.9 billion yen), which ensures holders of Sony stock look favorably on the company.

Other metrics show the company is firing on most of its cylinders--excluding Pictures--thanks to Sony Corp President Kazuo Hirai's strong leadership and mid-year plan strategy, which sees the Tokyo, Japan-based titan doubling down on premium smartphones, 4K televisions, camera sensors, and natively unifying its lucrative PlayStation gaming brand with a retinue of subscriptions and online services.

During the three-month quarterly period, Sony recorded sales and operating revenue of $18.252 billion (2.062 trillion yen), up a mighty 22.1% year-over-year and about 11% quarter-over-quarter. The PlayStation and subscription-led Games and Network Services segment earned the lion's share of sales with $3.83 billion (433.2 billion yen) or 21% of total sales revenues.

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Operating income for fiscal Q2'17 sits at $1.807 billion (204.2 billion yen), up a huge 346% year-over-year and about 28.4% quarter-over-quarter.

Due to strong performance across all key segments, Sony has boosted the forecast for the fiscal year ending March 2018.

The company now expects to pull in a mighty $75.22 billion (8.5 trillion yen) in sales and operating revenue, up 2.4% from previous forecasts. Operating income for the full annual year is forecast at $4.73 billion (630 billion yen), a new OI record in Sony's entire history.

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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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