Sony announced a sharp increase in gaming sales for the fiscal third quarter on Thursday, leading the company to increase its full-year revenue and profit projections.
In the December quarter, Sony performed as follows in relation to the LSEG-compiled analyst estimates:
Revenue was $4.41 trillion ($28.6 billion) in Japan, as opposed to the 3.77 trillion yen anticipated. The increase was 18% year over year and above analyst forecasts.
Compared to the anticipated 404.21 billion yen, operating income was 469.3 billion yen. Along with exceeding analyst projections, that represents a 1% annual increment.
Sony stated that its sales prediction for the fiscal full-year 2024 is now 13.2 trillion yen, which is 4% more than what it had predicted in November.
Additionally, the Japanese technology behemoth increased its projected operating profit for the year by 2% to 1.34 trillion yen. At 237.9 billion yen in the fiscal third quarter, the company’s game and network services division had a 16% increase in sales compared to the same period last year.
Sales of console games and non-first-party games with add-on content both increased, supporting this.
Source (CNBC)
