Sony Rides PS4 Sales, Web-Slinger to Surprise Profit
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Sony Corp. posted a surprise first-quarter profit as the PlayStation 4 topped sales for game consoles and “The Amazing Spider-Man” rejuvenated box-office receipts for its Hollywood studios.
The company posted net income of 26.8 billion yen ($261 million) in the three months ended June 30, compared with 3.5 billion yen a year earlier, Tokyo-based Sony said today. That compares with the 11.5 billion-yen average loss of four analyst estimates compiled by Bloomberg. The U.S.-traded stock rose as much as 9 percent, the most since May 2013.