Northwest Arkansas Democrat-Gazette

Sony reports revenue, profit increases

- — Bloomberg News

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.

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