Sony upgrades annual profit outlook on strong Q1 performance
Today
06:00 am JST
Today | 07:58 am JST
TOKYO
Sony upgraded its full-year profit forecast Wednesday on the back of a strong quarterly performance, although the pandemic boom enjoyed by the gaming sector is slowing.
The Japanese conglomerate said solid earnings in its music and consumer electronics businesses offset a first-quarter operating profit decline in the gaming sector.
A box-office triumph for the anime epic "Demon Slayer", distributed by Sony's animation unit Aniplex, also boosted its better-than-expected quarterly results.
Sony Group now predicts a net profit of 700 billion yen ($6.4 billion) for the fiscal year to March 2022, up from its earlier estimate of 660 billion yen.