Key Points:
– Sony’s profit in October-December increased by 13%.
– Strong sales in music, image sensors, and video games contributed to the growth.
– Quarterly profit totaled 363.9 billion yen, up from 321.5 billion yen the previous year.
– Sales for PlayStation game machines and Bravia TV sets rose 22% to 3.7 trillion yen.
– Exchange rate trends, with the yen weakening against the dollar, also played a role in the profit increase.
Details:
Japanese multinational Sony Corporation announced a 13% rise in its quarterly profit, driven by a surge in sales of music, image sensors, and video games. The company’s profit for October-December reached 363.9 billion yen, or $2.4 billion, marking a significant increase from the 321.5 billion yen recorded in the same period last year.
The robust sales performance was seen across Sony’s diverse business lines, which include financial services, gaming, networking operations, and entertainment divisions encompassing music and movies. Notably, the sales of image sensors for mobile products also contributed to the company’s improved bottom line.
The favorable exchange rate environment, with the yen depreciating against the dollar, further bolstered Sony’s earnings from overseas operations when converted back into yen. The company’s quarterly sales for its popular PlayStation game consoles and Bravia TV sets surged by 22% to 3.7 trillion yen, equivalent to $24.7 billion.
In the entertainment segment, Sony reported increased revenue from recorded and published music, merchandise, and licensing. The company’s pictures operations also saw a rise in revenue from TV and digital streaming licensing, along with home entertainment sales, driven by successful movie releases like “Spider-Man: Across the Spider-Verse” and “The Equalizer” featuring Denzel Washington.
Sony’s streaming service Crunchyroll experienced subscriber growth, further contributing to the company’s profits. As a result of its strong performance, Sony revised its annual profit forecast to 920 billion yen ($6.1 billion), surpassing the earlier projection of 880 billion yen ($5.9 billion) but still falling short of the 1 trillion yen earned in the previous fiscal year.