Sony Looks Past Middling PS5 Sales to Raise Profit Outlook
- Entertainment divisions drive Sony’s upgraded forecast
- PS5 hardware sales improved, but in-game spending went down
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Sony Group Corp. raised its full-year operating income forecast by 6% to 1.04 trillion yen ($9.2 billion) after reporting better-than expected earnings in the July-September quarter.
The Tokyo-based electronics giant had operating profit of 318.5 billion yen in the period, outperforming the analyst consensus estimate of 285.1 billion yen. The company cited improvements in its music, movies and electronics businesses as the reason for upgrading its outlook, which also included raising net income expectations to 730 billion yen.