Sony Corp. said its profit soared fivefold...

Sony Corp. said its profit soared fivefold in its first fiscal quarter on the strength of a “gratifying sales performance” and success in reducing costs. The Japanese conglomerate said it earned 16.1 billion yen ($122 million, based on an exchange rate of 132 yen to the dollar) in the period ended June 30, up from 3.25 billion yen a year earlier. Revenue rose 37.2% to 463.6 billion yen, or $3.51 billion. The sales gain reflects strong demand in all areas, especially in Europe and Japan, as well as the addition of sales generated by the former CBS Records Group, which Sony bought in January.