TOKYO — Sony powered back into the black in the last quarter, with a profit of $375 million, compared with a loss of $326 million for the same period last year.
Company upped its profit forecast for the fiscal year by 17%, while hiking its net income projection from $743 million to $867 million.
The strengthening yen is cutting into Sony’s yen-denominated revenues, however, causing the company to trim its expected sales for the financial year from $94 billion to $92 billion.
The movie division reported a 6.1% increase in sales year-on-year to $1.74 billion. Healthy B.O. returns for “Salt,” “Grown Ups,” “Resident Evil: Afterlife,” “The Karate Kid” and “The Other Guys” boosted revenues, as did growth in advertising sales and subscriber numbers for international channels.
However, the division recorded a $58 million operating loss due to the costs of marketing its slate, though this was an improvement of $19.8 million on the same period the previous year.