Sony Profit Rises Due to PlayStation, Movie-Business Strength

TOKYO—Sony Corp. said its fiscal third-quarter net profit rose 33.5% from a year earlier, thanks to strength from its PlayStation business and movie unit.

The Japanese electronics and entertainment company said net profit rose to ¥ 120.1 billion ($999.8 million) from ¥ 90 billion. Analysts expected a profit of ¥ 91.7 billion.

Sony said strong sales of videogame titles for the PlayStation—in addition to movies—compensated for weakness at its struggling smartphone business. Its device unit, which includes image sensors, recorded an operating loss of ¥ 11.7 billion as image-sensor sales were hurt by the weakness in global demand for smartphones and the unit's research-and-development efforts.

Sony's revenue during the quarter was ¥ 2.58 trillion, while operating profit was ¥ 202.1 billion. Analysts expected revenue of ¥ 2.52 trillion and operating profit of ¥ 176.1 billion.

For the fiscal year ending in March, Sony kept its guidance stable at a profit of ¥ 140 billion.

Sony has recently shown signs of recovery and growth at its consumer-electronics business after years of struggles. Its semiconductor unit has been leading the charge, as its image sensors are used in an array of cameras and smartphones, including Apple Inc.'s iPhones. Its PlayStation 4 videogame unit, meanwhile, is besting those of rivals Microsoft Corp. and Nintendo Co.

Sony's smartphone arm remains a weak point, although the company has told investors it will make the business profitable in the next fiscal year.

Write to Takashi Mochizuki at [e-mail]

(END) Dow Jones Newswires

January 29, 2016 01:45 ET (06:45 GMT)

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