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PlayStation game sales drive sharp rise in Sony profits

July 31, 2018

TOKYO (AP) — Sony Corp. says its profits nearly tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales.

The electronics and entertainment giant reported profits Tuesday of 226.4 billion yen ($2.0 billion) for the April to June quarter, up from 80.9 billion yen in the same period last year. Sales rose 5 percent to 1.95 trillion yen.

The Japanese company raised its sales forecast 3.6 percent for the fiscal year ending March 31 to 8.6 trillion yen, largely on an upward revision to PlayStation 4 software and hardware sales. Gaming accounts for about a quarter of Sony’s revenue.

Sony’s mobile business fell on slumping smartphone sales in Europe and Japan, while its life insurance business grew.

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