Sony 2Q17 earnings are great, just not for Xperias

Sony’s earnings trajectory has been going up for quite a few quarters at this point. And even though the only business unit that recorded a loss was the mobile unit, there is a silver lining to it.

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.

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About The Author
Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.