Sony Media Networks registers higher operating results in India in Q2
Sony Corp has posted 16% jump in operating profit for second quarter
Sony Corp has posted a 16 per cent jump in operating profit, registering a strongest-ever result for a second quarter, as per media reports.
As per a statement on the company website: “The operating income is expected to be higher than the July forecast primarily due to an expected decrease in marketing costs resulting from the above-mentioned release date changes in Motion Pictures and higher operating results in India as well as the benefit of the portfolio review in Media Networks.”
The statement further said that sales are expected to be lower than the July forecast primarily due to a delay in the timing of theatrical releases in Motion Pictures, as well as lower advertising and subscription revenues in Media Networks primarily due to the impact of the channel portfolio review that began in the previous fiscal year.
As per media reports, Sony slashed its annual subscription fee for its PlayStation Now cloud gaming service by 40 per cent to $59.99. This lifted its annual profit forecast to 840 billion yen from an earlier estimate of 810 billion yen.
