Sony’s PlayStation 5.
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sony It reported a big jump in operating profit on Thursday, beating analysts’ expectations and raised its full-year sales guidance.
Here’s how the company performed in the September quarter, compared to LSEG’s consensus estimates:
- Revenue: 2.97 trillion yen ($19.4 billion), compared with expectations of 3.03 trillion yen. Growth of 9% was slightly lower than analysts’ expectations.
- Operating profit: 445.1 billion yen ($2.91 billion), compared with expectations of 336.07 billion yen. The annual growth rate was 69%, exceeding expectations.
At the same time, Sony sees strength in its gaming and online services division, which owns its popular PlayStation home console brand. The company’s gaming and Internet services revenue was 1 trillion yen, an increase of 11% year-on-year.
The Japanese technology giant slightly raised its revenue target for fiscal 2025 to 12.7 trillion yen. Its previous sales target was 12.6 billion yen.
Last quarter, Sony reported an operating profit of 10%, with the electronics giant’s performance boosted by the release of R&B singer Beyonce’s “Cowboy Carter” album.
Sony’s gaming division is performing well thanks to a shift toward digital game purchases and its PlayStation Plus subscription service. However, hardware shipments underperformed due to a weak console market due to a lack of much-hyped AAA games.
However, analysts expect things to improve in the gaming industry next year – especially thanks to the expected launch of the next-generation Nintendo Switch model and the release of Grand Theft Auto VI.
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