TOKYO – Sony posted its first operating profit in five quarters of 146 billion yen ($1.61 billion), boosted by stronger showings in its movies, games and computers, and financial services divisions.
Net income for the October to December quarter rose to 79 billion yen ($97 million), from 10.4 billion yen in the same period in 2008.
Theatrical earnings from “2012” and “This Is It,” home entertainment sales from “Angels & Demons” and “Terminator Salvation,” and revenue growth at SPE’s international television networks, boosted sales at the division 16% to $2.21 billion.
The poor theatrical performance of “Did You Hear About the Morgans?” was bad enough for it to be cited in the group financial results.
The Network Products & Services division turned a 5.9 billion yen ($65 million) loss in the quarter in 2008, into a 19.4 billion yen ($214 million) surplus, on strong sales of Vaio computers and PlayStation 3. The PS3 racked up sales of 6.5 million units globally following its price cut last year.
“I think the economy has bottomed out, it’s still possible we could break even for the full year,” said CFO Nobuyuki Oneda, who had earlier announced a reduced forecast of 30 billion yen ($330 million) in losses for the financial year to March.The Hollywood Reporter
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