Sony reported results that exceeded market expectations and raised its forecasts for the fiscal year ending in March 2027. The Japanese multinational expects to achieve an operating profit of 1.87 trillion yen, approximately USD 11.8 billion, which implies an increase of 150 billion yen from its previous estimate.
The company also updated its net profit forecast to 1.33 trillion yen and its annual sales target to 13 trillion yen. The announcement comes after a quarter particularly driven by video games and cinema.
Sony increases its profits by 45% and surpasses expectations
Between July and September, operating profit reached 622.3 billion yen, about USD 3.95 billion, with a year-on-year growth of 45%. Net income rose by 44% to 449.6 billion yen, while sales advanced by 10% to 3.43 trillion yen.
The figures surpassed analysts' estimates. Sony's shares had closed up 7% on the day before the earnings report, amid expectations about its entertainment and semiconductor businesses.
The group also improved its forecasts for music and image sensors, one of its main technology businesses, in a market closely monitoring the impact of artificial intelligence.
PlayStation makes more money despite selling fewer consoles
The gaming and network services division recorded 220.1 billion yen in operating profit, an 83% increase from a year earlier. The company attributed the improvement to online service revenues, video game sales, and the absence of certain extraordinary charges from the previous period.
However, PlayStation 5 sold 2.6 million units during the quarter, compared to four million a year ago. By June, the console had sold over 95 million units, while in September, its U.S. sales grew by 22% year-on-year, according to Circana.
The rising cost of memory chips, driven by demand from data centers for artificial intelligence, poses a challenge. Sony stated that it had already secured enough memory to meet its sales targets and maintain hardware profitability.
