Sony posts 9.6% rise in Q1 profit
2022.07.29 09:17
FILE PHOTO: Sony Group Corp’s new line of headphones and monitors targeting the growing PC market for video games, the Inzone line, is displayed during its unveiling in Tokyo, Japan, June 29, 2022. REUTERS/Kim Kyung-Hoon
TOKYO (Reuters) -Japan’s Sony (NYSE:SONY) Group Corp on Friday posted a 9.6% rise in first-quarter operating profit, beating analyst estimates.
Profit was 307 billion yen ($2.31 billion) in the three months to the end of June, compared with an estimated average profit of 289 billion yen from seven analysts surveyed by Refinitiv.
Sony revised down its full-year operating profit forecast by 4% to 1.11 trillion yen. It booked a record 1.2 trillion yen profit last year bolstered by demand for its movies and TV shows.
The conglomerate said in May it aimed to sell 18 million of its hit PlayStation 5 consoles this fiscal year as supply chain snarls ease and it ramps up production. Sony sold 11.5 million units in the year ended March.
Upcoming titles from Sony’s gaming unit, which completed its acquisition of “Halo” creator Bungie this month to bolster in-house development capability, include “God of War Ragnarok” due for release in November.
($1 = 132.9000 yen)
