Earnings

Sony Q1 financial report announced: sales revenue and operating profit achieved double growth

On August 4, Sony Group announced the first quarter (April-June) financial report of the 2021 fiscal year. The financial report shows that Sony’s first quarter sales revenue reached 2,256.8 billion yen, an increase of 15% over the same period last year; operating profit reached 280.1 billion yen, an increase of 34% year-on-year; net profit was 211.8 billion yen, an increase of 16%.

 

The data shows that Sony’s music, electronics, imaging and sensor businesses have achieved steady growth. Among them, electronic business sales and profits increased the most, with sales revenue reaching 576.3 billion yen, an increase of 59% year-on-year, mainly due to the successful global product portfolio strategy of TV, digital imaging products, and audio products.

 

Due to the increase in revenue from music recording and music distribution, Sony’s music business sales revenue growth rate was second only to the electronic business, achieving a substantial increase of 44%, and sales revenue reached 254.9 billion yen. At the same time, affected by the decline in life’s income, Sony’s financial services business income did not increase but declined, with a year-on-year decrease of 6%.

 

 

In addition, the Sony Group raised its 2021 fiscal year performance forecast, in which operating profit is expected to be raised from 930 billion yen to 980 billion yen, and net profit is expected to be raised from 660 billion yen to 700 billion yen.

 

Although the current global new crown pneumonia epidemic is still unclear, many of Sony’s businesses have achieved steady growth in the first quarter, showing the strength of Sony.

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Published by
Maurice Murphy

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