Entertainment and consumer electronics giant Sony Corp., led by CEO Kaz Hirai, on Thursday posted its first full fiscal-year profit in five years, helped by asset sales, the weaker yen and stronger results at its movie unit.Sony’s earnings for the fiscal year ended March 31 reached $458 million (43 billion yen), compared with a year-ago loss of $5.7 billion (457 billion yen), helped by the sale of stock holdings and buildings. Sony’s operating result also swung to a profit of $2.45 billion after an operating loss of $820 million in the previous fiscal year. Revenue rose 4.7 percent to $72.3 billion as a weaker yen boosted competitiveness and the value of overseas revenue. STORY: Sony to Sell Manhattan Headquarters for $1.1 Billion Sony’s movie unit reported $509 million in operating profit for the full year, up 40 percent, on an 11.4 percent, or four percent on a constant currency basis, revenue gain to $7.8 billion.The company cited “significantly higher theatrical revenues from the … year’s film slate, partially offset by the sale of a participation interest in Spider-Man merchandising rights in the previous fiscal year.” Big box office hits that helped the latest fiscal year included Skyfall and The Amazing… Read full this story
- Sony likely to post $1.1B operating loss - worst in 14 years
- DIGITAL DIGEST. Tune in to what's new in online music. PLAYING WITH THE BAND...AT HOME
- Art world all shook up
Sony Posts First Annual Profit in Five Years have 237 words, post on www.hollywoodreporter.com at May 7, 2013. This is cached page on ReZone. If you want remove this page, please contact us.