'Sony Pictures Profits Slide in Quarter as Group Earnings
Slide in Quarter as Group Earnings
Japanese electronics
and entertainment group Sony saw its sales and profitability climb in the three months to
The group’s
net income soared by 24% to JPY264 billion ($1
78 billion) compared
with JPY213 billion in the same quarter last year
36 per share),
handily beating financial analysts’ consensus EPS estimates of $1
That was
despite the division’s revenues increasing from $2
Among the
other entertainment units, music enjoyed a significant increase in profitability, while games and network services
Currency movements
were always certain to be a big factor in these results
When Sony
reported its second quarter results at this time last year one US dollar bought 114 Japanese
And for
that results presentation Sony used a quarterly average rate of $1=JPY110
For Tuesday’s
results, Sony used an average exchange rate of $1=JPY138
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