Sony Music earnings

DOUG, MARTY & VJ DAY: Sony Corp. reported net income of $35 million for its fiscal first quarter, ending 6/30, bouncing back from a loss of $312 million in the same quarter a year ago. Revenue was up 13% to $17.3 billion, an improvement Sony attributed primarily to favorable foreign exchange rates and a weaker yen. But what about the sexy stuff? Sony reported that its music division—in which it combines Sony Music Entertainment, SME Japan and Sony/ATV—posted an operating income of $109 million in Q1, a robust 48% year-over-year increase, with sales +13.3% to $1.13m. Primary contributors to the uptick included Daft Punk, P!nk and Justin Timberlake, along with the equity earnings of the EMI Music Publishing pick-up. (8/1a)