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Sony Posts Surprise Profit on Robust PlayStation4 Sales

Sony (SNE) booked a surprise profit in the first quarter of fiscal 2017 thanks to notable sales growth in PlayStation4.

The Japanese electronics, entertainment and financial conglomerate booked a net profit of ¥21.2 billion ($204 million) in the three months through June 30, despite market expectations of a loss ranging between ¥34 billion and ¥39 billion. Net profit dropped 74.3% year-on-year on a revenue decline of 10.8%.

The Tokyo-based company saw year-on-year revenue declines in seven out of the 10 segments. There were...


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