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Sony posts 9.6% rise in Q1 profit

Sony posts 9.6% rise in Q1 profit

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The Sony logo is seen on a building in the Manhattan borough of New York City

TOKYO: Japan's 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.

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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. - Reuters


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