Sony's profits drop as it warns of the impact from U.S. movie strikes

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Sony's profits drop as it warns of the impact from U.S. movie strikes
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Sony's April-June profit slipped 17 per cent from a year earlier, as worries grew about revenue damage from a strike in the movie sector, the Japanese electronics and entertainment company said Wednesday.

Sony's April-June profit slipped 17% from a year earlier, as worries grew about revenue damage from a strike in the movie sector, the Japanese electronics and entertainment company said Wednesday.

Quarterly sales rose 33% to 2.96 trillion yen , as sales for the period grew in games and network services, the music business, financial services and imaging solutions.Sony said its results got a boost from a favourable exchange rate. The yen has been declining lately, trading at about 143 yen to the dollar, and a weak yen is a plus for Japanese exporters like Sony.

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