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Sony raises guidance as Q1 profit beats forecast on strong gaming business
['Sam Nussey', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
The PlayStation maker hiked its group operating profit for the year ending March by 8% to 1.72 trillion yen ($10.70 billion).
In the first quarter Sony sold 1.6 million PlayStation 5 consoles, roughly a third fewer than the same period a year earlier.
In the April-June quarter, group operating profit rose 40% to 476.5 billion yen due to the strength of the gaming and image sensors businesses.
The company raised the forecast for its image sensors business, citing higher sales and exchange rates.
For the July-September quarter, analysts on average expect Sony to report an operating profit of 465 billion yen.