Sony hikes profit outlook amid gaming segment strength
Investing.com -- Sony (NYSE:SONY) raised its operating profit forecast for the fiscal year ending in March after reporting strong performance from its gaming division.
The Japanese conglomerates lifted the profit outlook by 2% to 1.34 trillion yen ($8.70 billion), sending its shares 1.1% higher in Tokyo trading Thursday.
Sony said its profit in its gaming segment surged 37% in the October-December quarter, driven by increased sales from network services and lower hardware losses.
The company sold 9.5 million PlayStation 5 consoles during the quarter, up from 8.2 million units a year earlier. President Hiroki Totoki expressed optimism for the gaming business in the next fiscal year, supported by upcoming releases, including 'Grand Theft Auto VI', which Take-Two Interactive (NASDAQ:TTWO) Software (ETR:SOWGn) confirmed for an autumn launch.
Monthly active users on the PlayStation Network (LON:NETW) rose over 10% from the previous quarter, reaching 129 million.
Sony's group profit for the third quarter rose 1% year-on-year to 469.3 billion yen, surpassing analysts’ expectations. Operating profit in its hardware segment, which includes cameras, remained flat due to weaker television sales.
Sony also announced a share buyback plan of up to 30 million shares worth approximately 50 billion yen.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
