Sony profits surge on strong sales of movies, games and music

TOKYO —

Sony’s operating profit was hurt by its financial services segment, which is being partially spun off next year. Sony's chief financial officer and president, Hiroki Totoki, said the company is reshaping its strategy to focus on its more profitable entertainment operations. In that report, first in the Wall Street Journal but also by The Associated Press, Sony Pictures and the private equity firm Apollo Global Management have expressed interest in buying Paramount Global for $26 billion.

In music, the most successful releases for the latest quarter included SZA’s “SOS” and Travis Scott’s “Utopia,” while Beyonce’s “Cowboy Carter” recently reached No. 1 on Billboard and other nations’ rankings. In February, Sony said it was cutting about 900 jobs in its PlayStation game division, or about 8% of its global workforce, citing changes in the industry that required restructuring.

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan's Sony reports surge in profit on strong sales of movies, games and musicTOKYO (AP) — Profit at Sony surged 34% in the last quarter on strong sales of its video games, music and movies, the Japanese electronics and entertainment...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »