PlayStation game sales drive sharp rise in Sony profits

FILE - In this July 31, 2014, file photo, visitors walk past the logo of Sony Corp. at Sony Building in Tokyo. Sony Corp. said Tuesday, July 31, 2018, its profits nearly tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales. (AP Photo/Eugene Hoshiko, File)
In this Nov. 3, 2017, photo, the logo of the Playstation 4 Pro is seen at the Paris Games Week in Paris. Sony Corp. said Tuesday, July 31, 2018, its profits nearly tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales. (AP Photo/Kamil Zihnioglu)
FILE - In this Friday, April 28, 2017, file photo, people walk out of the headquarters of Sony Corp. in Tokyo. Sony Corp. said on Tuesday, July 31, 2018, its profits nearly tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales. (AP Photo/Shuji Kajiyama, File)

TOKYO — Sony Corp. profits nearly tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales, the Japanese electronics and entertainment giant said Tuesday.

The company reported profits of 226.4 billion yen ($2.0 billion) for the April to June quarter, up from 80.9 billion yen in the same period last year and 21.2 billion yen in 2016.

Sales rose 5 percent to 1.95 trillion yen. Gaming sales, which account for about a quarter of Sony's revenue, rose 36 percent to 472 billion yen.

Sony raised its sales forecast 3.6 percent for the fiscal year ending March 31 to 8.6 trillion yen, largely on an upward revision to PlayStation 4 software and hardware sales.

The company's mobile business fell on slumping smartphone sales in Europe and Japan, while its life insurance business grew about 11 percent.

Japanese game maker Nintendo Co. also reported strong profit growth Tuesday thanks to increased sales of games for its Nintendo Switch machine.

Must Read

South Korean President Moon in China on visit to...

Dec 14, 2017

South Korean President Moon Jae-in is in Beijing on a visit to repair ties frayed by a dispute over...

Holidaying frog game finds fans among China's...

Feb 13, 2018

A mobile game starring a vacationing frog has attracted a massive following in China by speaking to...

AP PHOTOS: People in Asia and beyond welcome...

Feb 16, 2018

AP PHOTOS: People in Asia and around the world have been celebrating the Lunar New Year Friday

AP Interview: Food agency head hopes talks help...

May 11, 2018

AP Interview: The head of the United Nations' World Food Program says a peace agreement with North...

Airlines obey Beijing's demand to call Taiwan...

May 23, 2018

Airlines caving to Beijing on Taiwan despite White House protests