Sony Quarterly Profit Slides 31 Percent as Movie Business Disappoints, PS5 Sales Bring Relief
Japan's Sony on Wednesday said first-quarter profit tumbled due to weaker performances from its movies and financial businesses.In April-June, operating profit slid 31 percent to JPY 253 billion ($1.8 billion or roughly Rs. 14,907 crore), in line with estimates.Profit at its movies division plunged by two-thirds due to lower sales for television content as well as higher marketing costs after the company released more films in theatres.Once a consumer electronics giant, the conglomerate has transformed itself to focus…