Sony 2Q17 earnings are great, just not for Xperias
The overall result for the second fiscal quarter of 2017 is that Sony is killing it — it made $18.3 billion in overall revenue, up 22 percent from a year ago in local currency, and logged net income of $1.16 billion, way up from just $46 million.
The company has continued to innovate in imaging with its mirrorless cameras, electronic consumables and semiconductors. “Spider-Man: Homecoming” was a relative success in a year of milquetoast summer releases and big acts, including a videogame soundtrack, boosted the Music sector, too.
Once again, the only unit to record a loss was the Mobile Communications unit with an operating income of about $22 million, down from a profit of $32 million in 2016. That said, sales were stable with a 2 percent annual gain.
The division has been working towards breakeven in recent years and, as such, is more susceptible to currency exchange swings — a reason for the loss heavily cited in the report. It was also susceptible to industry-wide trends like raw material cost hikes.