JAMES BOND, ADELE SAVE SONY PROFIT
Sony Corp.’ s earnings got a huge helping hand from Hollywood, music and games last quarter, validating CEO Kazuo Hirai’s shift away from its roots in consumer hardware.
As Apple and Samsung Electronics reel from the twin blows of a global smartphone slump and emerging- markets uncertainty, Sony posted better- than- expected results. A 33 percent surge in net income to $ 997 million in the December quarter appeared to endorse its move toward gaming and entertainment.
Sony gave due credit Friday to both the James Bond film “Spectre” and record- breaking sales of Adele’s “25,” whichwasn’t available on streaming services Spotify and AppleMusic. Games, its biggest division by sales, sold more PlayStation 4 consoles and software titles to help offset a plunge in sensor orders from smartphone customers such as Apple and Samsung. Bloomberg News
Adele performs during the Oscars at the Dolby Theatre in Los Angeles in February 2013. Sony credits the artist with helping to boost its profits in 2015.