SONY’s operating revenue and income grew in the third quarter of 2020

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SONY corporation is a leading consumer electronics, gaming, and entertainment brand based in Tokyo, Japan. The company is also a leading player in the imaging and sensing solutions industry. Its growth in the last quarter of fiscal 2019 (ending March 2020) was affected by the pandemic.

Supply chain disruption and extended lockdowns caused SONY’s sales to fall during the pandemic. However, in fiscal 2020, SONY’s sales seem to have picked up again with the reopening of economies.

SONY’s Performance in 2020 Q3 vs 2019 Q3.

During fiscal 2020 Q3, SONY’s operating revenue and income and net income gained significantly compared to the same period in the previous year.

SONY’s consolidated operating revenue in the third quarter of fiscal 2020 was 233.4 billion Yen higher than the same period in the previous year; YoY growth of 9%.

The company’s consolidated operating revenue for the third quarter of fiscal 2020 was 2,696.5 billion Yen or 25.8 Billion USD. During the same period in the previous fiscal, SONY’s consolidated operating revenue was 2463.2 Billion Yen or 22.64 billion USD.

The company’s consolidated operating income grew by 59.1 billion Yen compared to the same period in the previous fiscal year. SONY’s consolidated operating income in the third quarter of fiscal 2019 was 300.1 billion Yen or 2.76 billion USD. During the same period in fiscal 2020, SONY’s consolidated operating income climbed to 359.2 billion Yen or 3.44 billion USD; YoY growth of 20%.

SONY’s income before income taxes grew by 167.1 billion Yen in the third quarter of fiscal 2020 compared to the same period in the previous fiscal. The company’s consolidated income before income taxes for the third quarter of fiscal 2020 was 477.4 billion Yen or 4.57 billion USD. SONY’s income before income taxes, during the same period in fiscal 2019, was 310.3 billion Yen or 2.85 billion USD.

SONY Corporation’s Net Income (Net Income attributable to SONY company stockholders) also experienced impressive growth during the third quarter of 2020 compared to the same period in the previous fiscal year. Net Income grew by 142.4 billion Yen in the third quarter versus the same period previous fiscal. SONY’s net income for the third quarter of fiscal 2020 was 371.9 billion Yen or 3.56 billion USD. During the same period in the previous fiscal, its net income was 229.5 billion Yen or 2.11 Billion USD.

SONY’s adjusted operating income for fiscal 2020’s third quarter grew by 27% compared to the same period previous fiscal. Its adjusted operating income for the third quarter of fiscal 2019 was 276.5 billion Yen or 2.54 billion USD and grew to 351.4 billion Yen or 3.36 billion USD.

SONY’s adjusted income before income taxes also experienced significant growth rising by 56% in fiscal 2020’s third quarter compared to the same period previous fiscal. During the third quarter of fiscal 2019, SONY’s adjusted income before income taxes was 293.1 billion Yen or 2.69 Billion USD, which grew to 458.3 billion Yen or 4.38 billion USD in fiscal 2020’s third quarter.

SONY’s adjusted net income attributable to SONY corporation’s stockholders also experienced a growth of 59% in fiscal 2020’s third quarter compared to the same period in the previous fiscal. Its adjusted net income grew 127.7 billion Yen in fiscal 2020’s third quarter from the same period a year ago. Its adjusted net income for fiscal 2020’s third quarter was 343.9 billion Yen or 3.3 billion USD compared to 216.2 Billion Yen or around 2 billion USD during fiscal 2019’s third quarter.

SONY’s Segmentwise Performance in 2020 Q3 vs 2019 Q3

SONY 2020 Q3 Segmentwise Performance.

SONY’s operating segments that experienced growth in net operating revenue during fiscal 2020’s third quarter include Gaming and Network Services, Music, and financial services.

Segment2019 Q3 Revenue2020 Q3 Revenue
G&NS$5.8 Bn$8.45 Bn
Music$2 Bn$2.53 Bn
Pictures$2.17 Bn$1.83 Bn
EP&S$6 Bn$6.2 Bn
I&SS$2.74 Bn$2.55 Bn
Financial Services$3.74 Bn$4.07 Bn
All Other$664 million$693 million
SONY’s segment wise performance in 2020 Q3 vs 2019 Q3.

Its gaming and network services segment experienced the highest growth in 2020’s third quarter of all the operating segments, driven by growth in sales of PlayStation hardware mainly. SONY generated 883.2 billion Yen or 8.45 billion USD in net operating revenue from this segment in the third quarter of 2020, compared to 632.1 billion Yen or 5.8 Billion USD during the same period in 2019. The G&NS segment’s operating income grew by 26.7 billion Yen in 2020’s third quarter compared to the previous fiscal’s third quarter. Its net operating income in fiscal 2019’s third quarter was 53.5 billion Yen (around 490 million USD), which grew to 80.2 billion Yen (around 770 million USD) in 2020’s third quarter.

SONY’s Music segment also experienced growth in net operating revenue and income during the third quarter compared to the same period last year. This segment generated 264.5 billion Yen (2.53 Billion USD) in net operating revenue in the third quarter of 2020 compared to 216.9 billion Yen (around 2 Billion USD) in the same period last year; YoY growth of 47.5 Billion Yen. Its net operating income in 2020’s third quarter was 59.7 Billion Yen (around 571 million USD) compared to 36.3 Billion Yen (333 million USD approx.) during the same period in the last year; YoY growth of 23.4 Billion Yen.

SONY’s Pictures segment experienced a significant decline in net operating revenue in the third quarter of fiscal 2020 compared to the third quarter of the last year. However, its operating income grew compared to the last year’s third quarter. Pictures segment net operating revenue was 191.2 billion Yen (1.83 Billion USD) in the third quarter of 2020 compared to 236 billion Yen (2.17 Billion USD approx.) in the third quarter of 2019; YoY decline of 44.8 Billion Yen. On the other hand, its operating income grew by around 16.8 billion Yen in the third quarter of 2020 compared to the previous year’s third quarter. The pictures segment had a net operating income of 22.2 billion Yen (212 million USD approx.) in 2020’s third quarter compared to 5.4 billion Yen (49 million USD approx.) in the same period during 2019.

SONY’s Electronics Products and Solutions Segment experienced flat operating revenue in 2020 Q3 (649 Bn Yen) compared to 2019 Q3 (650.4 Billion yen). However, its net operating income experienced significant growth in 2020 Q3, compared to the same period in the last year. Net operating income from EP&S segment in 2020 Q3 was 649 billion Yen (6.2 billion USD) compared to 650.4 billion Yen (6 billion USD approx.) in 2019 Q3.

SONY’s Imaging and Sensing Solutions Segment experienced a decline in net operating revenue and income during 2020 Q3 compared to the same period last year. Its net operating revenue was 266.9 billion Yen (2.55 billion USD approx.) in 2020 Q3 compared to 298 billion Yen (2.74 billion USD approx.) in 2019 Q3; YoY decline of 31.1 billion. This segment’s operating income declined by 24.8 billion Yen in 2020 Q3 compared to 2019 Q3. SONY’s I&SS segment operating income in 2020 Q3 was 50.4 billion Yen against 75.2 billion Yen in 2019 Q3.

SONY’s financial services segment experienced growth in its operating revenue and income during 2020 Q3 compared to the same period last year. The company’s financial services operating revenue was 425.3 billion Yen (4.07 Billion USD approx. )in 2020 Q3 compared to 407.2 billion Yen (3.74 billion USD approx.) for 2019 Q3; YoY net growth of 18 billion yen. Its operating income in 2020 Q3 was 46.6 billion yen (445 million USD approx.), compared to 32.6 billion yen (300 million USD approx.) in 2019 Q3; YoY growth of 14 billion yen.

The ‘All Other’ segment, which includes all the other products and services, experienced flat operating revenue but a decline in operating income in 2020 Q3 compared to 2019 Q3. Its net operating revenue was 72.5 billion yen (693 million USD) for fiscal 2020’s third quarter compared to 72.3 billion yen ($664 million) in 2019 Q3. On the other hand, its net operating income was 8.1 billion yen against 20.7 billion yen in 2019 Q3.

SONY’s performance in the first three quarters of 2020

The table below shows SONY Corporation’s consolidated results for the first three quarters of 2019 and 2020.

Item.2019 Q1-Q32020 Q1-Q3
Operating Revenue.$59.9 Bn$63.9 Bn
Operating Income.$7.45 Bn$8.53 Bn
Income before income taxes.$7.4 billion$10.34 billion
Net Income.$5.24 billion $10 billion
SONY’s key financial results for 2020 Q1-Q3 vs 2019 Q1-Q3.

SONY’s net operating revenue in the first three quarters of 2020 climbed against the same period in the previous fiscal. The company experienced a 4% gain in its operating revenue and a 12% gain in its operating income during the first three quarters of 2020, compared to the previous fiscal’s first three quarters.

SONY’s net operating revenue from the first to third quarters of 2020 remained 6,778.9 billion yen ($63.9 billion approx.) compared to 6,511.1 billion yen ($59.9 billion approx.); YoY growth of 4% or 267.8 billion yen.

Sony’s operating income during the first three quarters of 2020 grew by 12% compared to the same period the previous year. The company’s operating income grew to 905.4 billion yen ($8.53 billion) for the 2020 Q1-Q3 period, compared to 810 billion yen ($7.45 billion) for the same period last year; YoY growth of 12% or 95.4 billion yen.

Sony’s income before income taxes for the 2020 Q1-Q3 period grew by 37% or 293.5 billion yen compared tp the same period the previous year. Its income before income taxes during the 2019 Q1-Q3 period was 803.4 billion yen ($7.4 billion) which grew to 1,096.9 billion yen ($10.34 billion) during the same period in 2020.

SONY’s net income attributable to the SONY Corporation’s stockholders grew by 87% or 495.2 billion yen in the 2020 Q1-Q3 period compared to the same period during the previous year. In the first three quarters of 2019, the company’s net income was 569.5 billion yen ($5.24 billion), which grew to 1,064.8 billion yen ($10 billion approx.) for the same period in fiscal 2020.

Segment2019 (Q1-Q3) Revenue2020 Q1-Q3 Revenue
G&NS$14.2 billion .$18.8 billion.
Music$5.9 billion$6.34 billion
Pictures$6.3 billion$5.3 billion
EP&S$15 billion$14 billion
I&SS$7.7 billion$7.35 billion
Financial Services
All Other
SONY Corporation’s Segment wise Revenue 2020 Q1-Q3 vs 2019 Q1-Q3.

Game & Network Services (2019 Q1-Q3 vs 2020 Q1-Q3)

SONY’s Game & Network Services (G&NS) segment experienced YoY growth of around 452 billion Yen in its operating revenue for the first three quarters of 2020. This segment’s operating income on the other hand grew by 116.9 billion yen during the same period compared to the previous fiscal.

The G&NS segment’s operating revenue for the first three quarters of fiscal 2019 was 1,544 billion yen ($14.2 billion), which grew to 1,996 billion yen ($18.8 billion) in the same period of fiscal 2020.

The G&NS segment’s operating income for the first three quarters of fiscal 2019 was 192.2 billion yen ($1.77 billion), which grew to 309.2 billon yen ($2.9 billion) during the same period in fiscal 2020.

Music Segment (2019 Q1-Q3 vs 2020 Q1-Q3)

SONY’s Music business, which includes recording, publishing, and visual media businesses experienced slight growth in operating revenue and operating income during the first three quarters of 2020 compared to the same period the previous fiscal.

SONY Music’s operating revenue for the first three quarters of fiscal 2019 was 638.5 billion yen ($5.9 billion), compared to 672.4 billion yen ($6.34 billion) during the same period in fiscal 2020. The segment’s operating income for the first three quarters 2019 was 112 billion yen (1.03 billion), which grew to 147.4 billion yen ($1.38 billion) for the same period in fiscal 2020.

Pictures Segment: (2019 Q1-Q3 vs 2020 Q1-Q3)

SONY’s Pictures segment experienced a decline in its operating revenue but its operating income grew for the first three quarters of 2020 compared to the same period last year. Its operating revenue declined from 682.7 billion yen ($6.3 billion) for the 2019 Q1-Q3 period to 558.6 billion yen ($5.3 billion) for the same period of fiscal 2020. This segment’s operating income grew from 45.1 billion yen to 78.7 billion yen during this period (2019 Q-Q3 to 2020 Q1-Q3).

Electronics Products and Solutions Segment: (2019 Q1-Q3 vs 2020 Q1-Q3)

The EP&S segment experienced a decline in its operating revenue and a small rise in its operating income. While this segment’s operating revenue declined by 142.4 billion yen, its operating income grew by 3.9 billion yen in the first three quarters of 2020 compared to the same period previous year.

During the first three quarters of 2019, SONY’s EP&S segment’s operating revenue remained 1,627.8 billion yen ($15 billion), which fell to 1,485.5 billion yen ($14 billion) during the same period in fiscal 2020. This segment was the top grosser during the first three quarters of fiscal 2019 but lost to the G&NS segment in fiscal 2020. The G&NS segment became the top grosser for the first three quarters of 2020, generating $18.8 billion in revenue for the period compared to the $14 billion that the EP&S segment generated during the same period.

Imaging and sensing solutions segment: (2019 Q1-Q3 vs 2020 Q1-Q3)

SONY’s imaging and sensing solutions segment also experienced a decline in its operating revenue and income during the first three quarters of 2020 compared to the same period in the previous year. While its operating revenue declined by 59.2 billion during the period, its operating income declined by 75.4 billion.

SONY’s Imaging and sensing solutions segment’s operating revenue was 839.4 billion yen ($7.7 billion) during the first three quarters of fiscal 2019, which fell to 780.2 billion yen ($7.35 billion) during the same period in fiscal 2020.

The segment’s operating income was 201.1 billion yen ($1.85 billion) for the first three quarters of 2019, which fell to 125.7 billion yen ($1.18 billion) during the same period in fiscal 2020.

SONY Financial Services: (2019 Q1-Q3 vs 2020 Q1-Q3)

All Others: (2019 Q1-Q3 vs 2020 Q1-Q3)