July 29, 2010

By By Glenn Peoples

Sony Music Entertainment posted slight gains in the quarter ending June 30, 2010. The company?s revenue increased 1.3% to 110.3 billion yen ($1.24 billion) from 108.8 billion yen last year. Sony cited the impacts of top sellers such as AC/DC?s ?Iron Man 2? soundtrack, music from the TV show ?Glee,? Usher?s ?Raymond v Raymond? and Kana Nishino?s ?to LOVE.?

Operating income rose 39% to 7.5 billion yen ($84 million) from 5.4 billion yen. The company attributed the increase to its top sellers as well as a decrease in marketing and overhead costs.

Sony Corp, Sony Music?s parent company, reported a 3.8% increase in revenue to 1.6 trillion yen ($18.67 billion) due mainly to strong performances from two divisions, Consumer, Professional & Devices (which had a large increase in sales of LCD televisions) and Networked Products & Services (which had strong growth in PC sales and PlayStation3 hardware and software).

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