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Sony net profit soars in April-June quarter


As for the revenue, they marked a sharp drop due to the lack of the launch of important first party titles during this period.

Reuters reports that Sony just announced a first quarter profit of ¥157.61 billion, or about $1.43 billion.

Sales and operating revenues climbed 15.2 percent to 1.86 trillion yen or $16.59 billion from prior year's 1.61 trillion yen. The Kumamoto natural disaster that occurred in mid-April past year essentially shut down one of Sony's five imaging sensor factories, causing $1.03 billion in damages for the firm, according to its internal estimates.

The semiconductor business was the biggest contributor to the earnings, turning from a year-earlier loss of 43.5 billion yen to a profit of 55.4 billion yen. Sony said it is on course to achieve a sales target of 18 million for the year through March. However, total downloads saw a steep decline.

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- Physical's growth meant that it increased to 33.6 percent of all recorded music revenue, up from 32.2 percent of revenue. Other revenue, including licensing, merchandising, and live performances, saw a slight 9.6% increase to ¥14.883 million ($134.7 million). He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017.

The company said noteworthy projects to watch during the summer are include Arcade Fire's Everything Now, Foo Fighters' Concrete and Gold, Foster the People's Sacred Hearts Club, French Montana's Jungle Rules, Kesha's Rainbow, LCD Soundsystem's American Dream, Old Dominion's Happy Endings, Laurent Voulzy's Belem and albums from David Gilmour and Indochine.

Music publishing, which consists of Sony/ATV, Sony Japan publishing and its percentage of EMI Music Publishing, produced revenues of $151.7 million (16.86 billion yen), a 7.7% increase from past year.

The Tokyo-based tech giant also said its operating profit had risen nearly threefold in the recording period to 157.61 billion yen, up 15.2 percent and based on sales of 1.86 trillion yen.

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