Sony Group Corp. reported a 22% rise in profit for the holiday quarter and raised its full-year profit forecast, citing strong demand for entertainment products.

The company now expects an operating profit of ¥1.5 trillion (US$9.8 billion) for the fiscal year ending March, up from ¥1.4 trillion (US$8.93 billion) previously.

In Q3, Sony posted an operating income of ¥515 billion (US$3.28 billion), surpassing analyst estimates, with sales rising 1% to ¥3.7 trillion (US$23.6 billion).

The PlayStation division benefited from popular titles like Battlefield 6 and Call of Duty: Black Ops 7, with software sales reaching 97.2 million units and PS5 sales hitting 8 million units in the quarter.

Sony’s music streaming and live events also contributed to revenue growth, while its image sensor division saw a 20% revenue increase.

The company’s outlook remains cautious due to global memory chip shortages affecting smartphone sales and hardware costs.

Sony’s shares rose nearly 6% following the results.

🔗 Source: Bloomberg

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