Sony Set for Record Profit, Gives Cautious Tone

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Sony Set for Record Profit, Gives Cautious Tone

- Streaming and downloads combined (total digital) produced $462.5 million (51.4 billion yen), up 8.7 percent from the $437.4 million (47.3 billion yen) garnered in the first quarter of 2016.

You can view the full financial results here.

Sony did not give a reason for the price increase, which is mirrored across Europe, but has advised members that buying memberships before the new pricing goes live on August 31st will stack with any remaining membership - allowing those who are tied in to the ecosystem to delay the price rise in exchange for advance payment.

More importantly, we get an update on PS4 shipments.

It's worth mentioning that these are sell-in numbers to retailers.

During the April-June quarter, Sony's semiconductor business offset a 60% drop in operating profit for the PlayStation business. Sony has adjusted its forecast for the rest of 2017's fiscal year, noting that it expects 18 million units shipped this year versus last year's 20 million units shipped.

Sales and operating revenue - 1.858 trillion yen ($16.8 billion), up 15.2% year-over-year.

Its Sony Music division reported an operating income of ¥25 billion ($227 million), up 57.6% over Q1 2016.

While sales were up, Operating Income fell by 59.7% to 17.7 billion yen, "primarily due to the absence of the significant contribution from Uncharted 4", as well as that PS4 price drop. Sonys fiscal first quarter profit almost quadrupled compared to a year ago, boosted by its lucrative image sensor and other businesses, highlighting a gradual recovery at the Japanese electronics and entertainment company.

Operating income spiked by 180.5% YoY to 157.6 billion yen ($1.42 billion), driven by big turnaround in segments like semiconductors, which saw astronomical operating income growth by 227% year-over-year, as well as the Imaging Products and Solutions segment, which saw an equally impressive YoY spike of 209%. The combined Sony/ATV and EMI catalog has grown to 4.49 million songs, versus 4.21 million songs by the end of its prior fiscal year.

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