By Yuri Kageyama, Business Writer
TOKYO (AP) --Sony's profit edged up 3% in the last quarter, weathering production setbacks from COVID-19 lockdowns in Shanghai and a trend away from video gaming as pandemic restrictions eased elsewhere.
Tokyo-based Sony Corp.'s April-June profit totaled 218 billion yen ($1.6 billion), up from 212 billion yen a year earlier, the Japanese electronics and entertainment company said Friday.
Quarterly sales rose 2% to 2.31 trillion yen ($17.4 billion), on the back of strong demand in Sony's music operations, including for Harry Styles' "Harry's House" and Doja Cat's "Planet Her."
Among the better performers in movies was "Morbius," a film based on the Marvel Comics hero. But Sony is hoping "Bullet Train," starring Brad Pitt and set for release in August, will do well at the box office.
Sony, which makes the PlayStation video game consoles, Bravia TVs and Columbia Pictures films, said sales from its music streaming service rose during the quarter. Despite some concern about a global economic slowdown, the streaming business was expected to remain stable, said Chief Financial Officer Hiroki Totoki.
Sales fell in the video games sector and technology services. One reason was that, as restrictions related to the coronavirus pandemic eased, people were playing games less and instead going out, Totoki said.
Also, a shortage of computer chips has slowed production of the Sony's PlayStation 5 machine.
Sony's game software sales fell in the latest quarter, while costs for developing software rose. Sony acknowledged the slowdown in shipments may dampen the momentum of game players' interest in PlayStation 5. But the company is banking on major game titles slated for release later in the year to revive sales.
Sony said it expects its full fiscal year profit to fall to 800 billion yen ($6 billion) from the previous year's 882 billion yen.
Jean Smart, Ariana Grande, Michael Keaton among hosts for “SNL” season 50
Fresh off her Emmys win, Jean Smart will kick off the landmark 50th season of "Saturday Night Live."
NBC on Thursday announced the lineup of hosts for the season, which premieres Sept. 28. Joining Smart on the first show will be Jelly Roll as the musical act. He was also at the Emmys, singing during the ceremony's in memoriam segment.
It will be Smart's first time hosting "SNL."
Comedian Nate Bargatze will host on Oct. 5, with Coldplay as the musical guest.
Ariana Grande will host Oct. 12, with musical guest Stevie Nicks.
"Beetlejuice" star Michael Keaton will host on Oct. 19, the last show before Halloween, and Billie Eilish will be that night's musical guest.
The host on Nov. 2 will be "SNL" alum John Mulaney, with breakout sensation Chappell Roan as the music guest.
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