Sony reports revenue, profit increases
TOKYO — Sony, the Japanese electronics maker, on Tuesday reported sharp increases in revenue and net profit in the second quarter.
The company has been trying for years to shift its focus onto small-scale products such as camera sensors, consoles and video games and away from its reliance on computers, televisions and mobile phones.
Sales of Sony’s PlayStation 4 video games console and PlayStation VR, a virtual reality headset, helped drive the strong results. The PlayStation VR, in particular, has been more popular than the company expected, and the Japanese company has become a leader in the premium side of the market.
That helped bolster net profit, which surged to about $732 million, from about $192 million the year before. Revenue rose 15.2 percent compared to a year ago. Its improving prospects have helped push Sony stock up more than 35 percent this year.
Sony’s earnings for the second quarter last year had been affected by earthquakes in Japan, which led to shortages of components for its camera unit. The latest results were helped by insurance claims related to those earthquakes, as well as the sale of a manufacturing subsidiary of the camera business.