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.
“Scandal” cast will reunite for online script reading for hurricane relief in western North Carolina
The cast of ABC's hit political drama "Scandal" may need to brush up on their snappy, speedy delivery known as "Scandal-pace," because they're reuniting for a good cause. Its stars including Kerry Washington, Tony Goldwyn and Bellamy Young will take part in a live virtual script reading on Nov. 17 to raise money for hurricane relief in western North Carolina.
Beginning Friday, fans can go online and donate to reserve a spot for the online reading. Proceeds will benefit United Way of North Carolina. Everyone who donates will be able to take part in a virtual pre-event with the cast and Shonda Rhimes will give an introduction.
Additional guest stars will also be announced. The online fundraising platform Prizeo is also holding a contest where one person who donates online via their site will be selected to read a role from the script with the actors. The winner should not worry about the "Scandal"-pace, assured Young over Zoom.
"Whomever the lucky reader is can read at whatever pace they want," she said.
Young, who played Mellie Young, the first lady and later Republican presidential nominee on "Scandal," was born and raised in Asheville, North Carolina. She came up with the idea for the effort with a friend and took it to her fellow "Scandal" actors, who all jumped on board. Young said this is the first script reading the cast has all done together since the show ended after seven seasons in 2018.
Which episode they will be reading has not been announced yet.
Young said it's "been devastating" to see so many parts of her hometown badly damaged by Hurricane Helene, which ravaged western North Carolina one month ago.
To research the best use for donations, Young spoke with numerous political leaders, including North... Read More