'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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