ÐÇ¿Õ´«Ã½

Skip to main content

Sony's profits drop as it warns of the impact from U.S. movie strikes

Share
TOKYO -

Sony's April-June profit slipped 17% from a year earlier, as worries grew about revenue damage from a strike in the movie sector, the Japanese electronics and entertainment company said Wednesday.

Tokyo-based Sony Corp.'s fiscal first quarter profit totalled 217 billion yen ($1.5 billion), down from 261 billion yen a year ago.

Quarterly sales rose 33% to 2.96 trillion yen ($21 billion), as sales for the period grew in games and network services, the music business, financial services and imaging solutions.

Sony said its results got a boost from a favourable exchange rate. The yen has been declining lately, trading at about 143 yen to the dollar, and a weak yen is a plus for Japanese exporters like Sony.

Sony's revenue in the movies segment was expected to suffer because of the strikes by the Writers Guild of America, or WGA, and Screen Actors Guild - American Federation of Television and Radio Artists, or SAG-AFTRA.

Release dates of movies, as well as deliveries of TV series, were being delayed, according to Sony.

Sony said it shipped 3.3 million of its PlayStation 5 video game consoles during the quarter through June. Sony estimates 108 million people are active users on its Sony online gaming network, up by 5 million users from a year ago.

Among Sony's recent top-earning music releases were the "SOS" album by SZA, Miley Cyrus' "Endless Summer Vacation" and "Harry's House" from Harry Styles.

Sony raised its full year profit forecast to 860 billion yen ($6 billion) from an earlier projection for an 840 billion yen ($5.8) profit. That's lower than the profit it recorded the previous year at 1 trillion yen.

CTVNews.ca ÐÇ¿Õ´«Ã½

Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.

Police have arrested an 18-year-old woman who allegedly stole a Porsche and then ran over its owner in an incident that was captured on video.

Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

Advocates have identified the woman who died this week after being shot by police in Surrey, B.C., as a South American refugee who was raising a young daughter.

Provincial police investigating the death of a cat that was allegedly set on fire in Orillia earlier this week released surveillance video of a person of interest in the case.

Local Spotlight

Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.

They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.