Japan's Sony reports surge in profit on strong sales of movies, games and music

Sony has reported that its profit surged 34% in the last quarter from a year earlier on strong sales of its video games, music and movies. A weak yen also boosted the value of Sony's overseas earnings. The Japanese electronics and entertainment company said Tuesday its quarterly profit totaled about $1.2 billion. Sales for the maker of the PlayStation game machines rose 14%. The company's overall profitability was hurt by its financial services segment, which is being partially spun off next year. Sony's chief financial officer, Hiroki Totoki, said Sony is reshaping its strategy to focus on its more profitable entertainment operations. He declined comment on reports about Sony's interest in purchasing Paramount Global.