TOKYO — Profit at Sony surged 34% in the last quarter on strong sales of its video games, music and movies, the Japanese electronics and entertainment company said Tuesday.
Sony’s operating profit was hurt by its financial services segment, which is being partially spun off next year. Sony's chief financial officer and president,“We hope to improve our profitability and build our resilience to an ever-changing business environment,” he said in an online presentation.but he confirmed that the company's strategy “in general” was to build “synergies” that would leverage the intellectual property Sony has in games, music and movies.
Sony’s movies, music, video games and imaging solutions units did well in the past fiscal year. Paid subscription growth at Crunchyroll, a U.S. video streaming service, added to Sony’s bottom line. Like other Japanese companies, Sony has benefited from the weakening yen, which boosts the value of Japanese exporters’ overseas earnings when converted into yen. The U.S. dollar has been trading about 156 yen lately.
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