Sony Reports Higher-Than-Expected Increase in Operating Profit

Forex - Sony reported a 69% increase in operating profit, exceeding analyst expectations.

The Japanese tech giant achieved an operating profit of 445.1 billion yen for the three months ending in September, surpassing the forecast of 336.07 billion yen. This figure represents a 69% increase compared to the same period last year.

Sony's operating profit rose by 42.3% in the first half of the fiscal year ending in March 2024. The operating profit for the April-September period reached 734.18 billion yen.

Sony's gaming division performed well, benefiting from digital game purchases and the transition to the PlayStation Plus subscription service.

However, hardware shipments proved lackluster amid a weak console market due to a lack of triple-A titles.