Sony’s 2018 fiscal year Q3 earnings: profits increased to about $3.5 billion

Today Sony officially announced its financial report for the third quarter of the 2018 fiscal year. The financial report showed that Sony’s operating profit for the quarter increased to $3.46 billion compared to last year’s $3.26 billion. 

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Overall, Sony’s net revenues reached $2.21 billion, down from $2.45 billion in the same period last year, but profits have increased. Its music business accrued more profit and its operating profit rose from $360 million to $1.35 billion. Not only that, but Sony has also become the world’s largest music distributor. Sony’s largest volume is the game and network services business. Its revenue increased from $6.59 billion in the same period last year to $7.25 billion, but its profit dropped from $784 million to $671. 

Sony China officially quoted CEO Yoshida Kenichiro as saying that business diversification and diversified perspectives are Sony’s unique wealth. The financial report data does show that Sony’s business has shown a multi-point situation. However, Sony’s mobile business suffered losses in the quarter, with revenue of $1.25 billion and a loss of $142 million. It is worth mentioning that Sony’s mobile business also recorded a loss of $273 million in the last quarter.

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