Sony Sees Best Q3 Profit Since 2008 (MESA)

Sony Corp. rode big gains from its gaming and film divisions to post its best fiscal third quarter profit since 2008, the company reported late Jan. 28. The company posted operating income of nearly $170 million for its fiscal third quarter of the year, up 11% from the same quarter in 2014, on revenue of over $2.1 billion, up half a percentage point from the previous year…

“[Smartphone, camera and television businesses] recorded a year-on-year increase in operating income in the third quarter [and] their performance helped Sony to record the highest level of third quarter consolidated operating income and net income since the third quarter of the fiscal year ended March 2008,” Sony Corp. CFO Kenichiro Yoshida said in a call with investors.

The company’s gaming and network services segment saw a $335 million profit for Sony (up 45.5%) thanks to big quarterly sales of PlayStation 4 consoles and software. Sony also announced it would be combining its Sony Computer Entertainment and Sony Network Entertainment divisions into a single company: Sony Interactive Entertainment.

Filmed entertainment enjoyed a profit of $170 million (up more than 225%) thanks to strong worldwide theatrical performances of Spectre and Hotel Transylvania 2. The company’s music division enjoyed a profit of $228 million, with major gains in digital music sales.

Sony’s mobile segment saw a nearly 15% drop in revenue for the quarter, but still posted a profit of $201 million (up more than 133%) thanks to huge reductions in marketing and research and development spending. Meanwhile, the company’s camera segment posted a profit of $197 million, up more than 20%. Home entertainment hardware (TVs, set-tops, etc.) saw a profit of $260 million (up nearly 20%).