Sony Group reported a 22% increase in operating profit for the quarter ending December, surpassing analyst expectations. The company's revenue for the quarter was 3.71 trillion Japanese yen (about $23.68 billion), slightly higher than analyst estimates.
The profit growth was driven mainly by strong performance in Sony's gaming and semiconductor (sensor) businesses. The company's music division also contributed positively.
Despite this growth, Sony Pictures Entertainment saw a 12% decline in revenue and an 11% drop in operating income for the fiscal third quarter.
Based on these results, Sony raised its profit outlook for the full year. However, the company noted that U.S. tariffs are expected to reduce operating profit by about 50 billion yen for the fiscal year.
Sony saw strong results in its gaming and sensor businesses, along with gains in music, which helped boost its profits.
Sony Pictures’ revenue dropped by 12% in the quarter compared to the same period last year.
Yes, Sony raised its profit forecast for the full year after reporting better-than-expected results.
Sony expects U.S. tariffs will reduce its operating profit by about 50 billion yen this fiscal year.
Reuters
CNBC
WSJ
Invezz
Seeking Alpha
Zacks Investment Research