Sony's operating profit plunges year-on-year

Japanese manufacturer, Sony, may not be very active in the smartphone market, however, its business generally is not doing poorly. Today, the company released its Q3 2019 financial report and its operating profit hit 300.13 billion yen ($2.8 billion). This is more than market estimates which expected Sony to post about $2.5 billion. Nevertheless, this figure also represents a 3% year-on-year decrease.

Sony's adjusted operating profit was 276.5 billion yen ($2.5 billion), up from 260.1 billion yen ($2.3 billion) in the same period last year. In addition, the net income attributable to shareholders of the Sony Group was 229.5 billion yen ($2 billion), a decrease of 46% year on year.

The operating profit of Sony's main divisions are:

• Gaming and Internet services: 53.5 billion yen ($488 million) - down from 73.1 billion yen ($671 million)in the same period last year
• Sony Music: 36.3 billion yen ($333 million) - lower than 147.1 billion yen ($1.3 billion) in the same period last year
• Sony Pictures: 5.4 billion yen ($49 million), down from 11.6 billion yen ($105 million) in the same period last year
• Electronic products and solutions: 80.3 billion yen ($736 million), up from 66.2 billion yen ($608 million) in the same period last year
• Imaging and sensing solutions: 75.2 billion yen ($690 million), up from 46.5 billion yen ($425 million) in the same period last year
• Financial services: 32.6 billion yen ($296 million), down from 37.9 billion yen ($342 million) in the same period last year
• Others: 20.7 billion yen ($187 million), up from 6.1 billion yen ($55 million) in the same period last year.