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Sony's profits are based on PlayStation Strength



Tokyo-

Sony


SNE 3.21%

reported another strong quarterly performance, striving for stable sales of electronics hardware, strengthening of PlayStation's video game business and demand for smartphone components.

In April-June, the Japanese electronics and entertainment conglomerate reported a net profit of $ 226.4 billion of $ 2.05 billion in revenue, compared with a profit of $ 80.9 billion in revenue of NOK 1

.86 billion in the same quarter last year.

Sony's tax performance in the first quarter was also lifted by the sale of part of its stake in Spotify Technology SA. Operating profit increased to NOK 195 billion from NOK 157.6 billion the previous year.

The results suggest that Sony's new CEO,

Kenichiro Yoshida,

remains on track to maintain high profit levels.

Sony wrote record operating profit for the fiscal year ended March, and Mr. Yoshida has said that the company would focus on keeping the level stable.

During the first quarter, all of Sony's units, except movies and smartphones, recorded record earnings, with the highest performing PlayStation business, of 83.5 billion. The semiconductor device also reported strong sales thanks to the strong demand for Sony's image sensors, a core component of smartphone cameras.

CFO

Hiroki Totoki

said at a press conference that strikes games, including "God of War", released in April, pushed up both software and hardware sales in the PlayStation business, and encouraged Sony to upgrade its earnings forecasts.

For the fiscal year ending next March, Sony said that it expects a record net profit of $ 500 billion in revenue of $ 8.6 billion, up from a forecast in April of $ 480 billion net profit of 8.3 billion in turnover. Sony expects the PlayStation device to generate NOK 250 billion in operating profit, up from NOK 190 billion in the previous forecast.

The weakness of the company remains smartphone business, which is well behind

apple
Inc.s

iPhone and

Samsung Electronics
Co.s

Galaxy series. Sony's smartphone device recorded an operating loss of NOK 10.8 billion for the last quarter. For the fiscal year, the company expects a loss of NOK 30 billion, but Mr. Totoki said that the business division is being revised and warned whether further downgrades are possible.

Write to Takashi Mochizuki at takashi.mochizuki@wsj.com


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