PlayStation 4 Sales Tumble for the First Quarter of 2017

01 August, 2017, 22:55 | Author: Marjorie Miles
  • Ahhh! It’s hideous

The Kumamoto quake 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.

It announced that the company's operating profit for the quarter jumped a massive 180.5% over the previous year, and net income jumped a staggering 281.4% to $564 million.

Also helping Sony's bottom line was the absence of the damage it suffered from the April 2016 natural disaster in southwestern Japan that shut down its semiconductor plant, and gains from insurance recoveries related to that quake, it said.

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Sony Music also reported their top 10 best-selling albums for the first quarter ending June 30, 2017.

Looking ahead, Sony Corp. forecasts that its overall music operations will produce an operating income of 75 billion yen on total revenue of 630 billion yen in its current fiscal year, ended March 31, 2018.

Operating income was 157.6 billion yen or $1.41 billion, significantly higher than 56.2 billion yen a year ago.

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However, PS4 units shipped declined slightly year-over-year as Sony Interactive Entertainment shipped 3.5 million PS4 units during the first quarter of the last fiscal year.

On Tuesday, Sony said operating profit rose nearly three-fold in April-June to 157.61 billion yen ($1.43 billion), exceeding the previous first-quarter record by about 30 percent, and beating analyst estimates by a similar degree. Sony, however, noted that it would have increased by 1% under constant currency. The increase in sales on a USA dollar basis was primarily due to higher sales in Television Productions and Media Networks, partially offset by lower sales in Motion Pictures.

Sony also provided a detailed analysis of the results of the Game & Network Services segment, which includes PlayStation and the PlayStation Network.

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However, consolidated sales for the year are expected to be higher than the previous view primarily due to the impact of foreign exchange rates. In Japan, Sony shares settled on Tuesday at 4,459 yen, down 1.78 percent. He laid out a three-year plan to lift the operating profit to 500 billion yen by 2017. But Sony is playing things safe, cutting its annual image sensor sales estimates by 2.9%, saying that Chinese phone manufacturers are shifting toward cheaper components in lower-priced phones.

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