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Sony lifts profit forecasts due to strong gaming, music sales

Sony
Sony

dpa/GNA – Sony revised up its operating profit outlook by 34 per cent to 940 billion yen (9 billion dollars) thanks to robust sales in its gaming and music units amid the Covid-19 pandemic, the company said on Wednesday.

The maker of PlayStation consoles and Xperia smartphones also lifted its net profit forecast to 1.08 trillion yen from 800 billion yen estimated three months ago, while its sales outlook was raised to 8.8 trillion yen from 8.5 trillion yen.

For the October-to-December quarter, Sony saw its operating profit rise 19.7 per cent from a year earlier to 359.2 billion yen and its net profit jump 62 per cent to 371.9 billion yen. Sales grew 9.5 per cent to 2.7 trillion yen, the company said.

Sales in the “Game and Network Services” segment surged nearly 40 per cent to 883.2 billion yen in the quarter, while the music unit saw its sales rise 21.9 per cent to 264.5 billion yen, Sony said.