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AP-National

Sony’s profits drop as it warns of the impact from US movie strikes

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Published 2:27 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Sony’s profits between April and June slipped 17%, as worries grew about revenue damage from a strike in the movie sector. The Japanese electronics and entertainment company says its fiscal profit in the first quarter totaled 217 billion yen, or $1.5 billion, down from 261 billion yen a year ago. Quarterly sales are up 33% as sales grew in games and network services, the music business, financial services and imaging solutions. Sony’s revenue in movies will suffer because of the strikes by the Writers Guild of America and the Screen Actors Guild, or SAG-AFTRA. Release dates of movies and deliveries of TV series are being delayed.

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