Sony Sees 3% Profit Rise, Raises Forecast on Currency, Network Sales

Sony Reports 3% Profit Gain and Raises Full-Year Forecast

Sony Corporation, the Japanese electronics and entertainment giant, announced a 3% increase in its October-December profit on Thursday. The company also revised its full-year forecast upwards, citing favorable currency exchange rates and strong sales in network services.

For the October-December quarter, Sony reported a profit of 373.7 billion yen ($2.4 billion), compared to 364 billion yen in the same period last year. Quarterly sales edged up 18% to 4.4 trillion yen ($29 billion), driven by solid performance in its financial services, games, and music operations.

Looking at the full fiscal year (April-March), Sony reported a 21% increase in profit to 943.9 billion yen ($6 billion), compared to 781.6 billion yen in the previous year. This positive result prompted the company to revise its full-year profit projection upwards to 1.08 trillion yen ($7 billion), an 11% improvement over the previous year's profit.

The upward revision was attributed to a favorable currency exchange rate and growing sales in network services. Sony's PlayStation 5 game console, now in its fifth year since launch, continues to perform well, although details on a potential successor remain under wraps.