Japan's Sony Increases Profit Forecast Amid Strong Game Sales

TOKYO (AP) — Sony, the well-known Japanese electronics and entertainment company, has reported a 3% increase in its profit for the October to December period. This positive outcome has led the company to adjust its full-year profit forecast upward.

For the last quarter, Sony's profit totaled 373.7 billion yen (approximately $2.4 billion), which is an improvement from the 364 billion yen recorded during the same period last year. The company also experienced an 18% rise in quarterly sales, reaching 4.4 trillion yen (about $29 billion). This boost in sales is attributed to strong performances in its financial services, gaming, and music segments.

During the nine months from April to December, Sony reported a significant 21% increase in profit, amounting to 943.9 billion yen ($6 billion), up from 781.6 billion yen in the previous year. The total sales for this nine-month period grew by 8%, reaching 10.3 trillion yen ($67 billion).

Sony has revised its profit projection for the current fiscal year to 1.08 trillion yen ($7 billion), an increase from the previous estimate of 980 billion yen ($6.3 billion) announced in November. This upward revision represents an 11% increase compared to their profit from the last fiscal year.

The adjustment in forecasts is influenced by several factors, including favorable currency exchange rates and increased sales in their network services. The PlayStation 5 gaming console, which has been on the market for five years, continues to contribute positively to the company's game sales, although there have been no announcements regarding a potential successor at this time.

Sony, profit, forecast