By Islam El-Sakka
Japanese electronics and entertainment giant Sony Group Corp. reported a 44% jump in quarterly profit on Thursday, driven by the box-office success of its film “Spider-Man: Brand New Day” and sustained demand for PlayStation 5 consoles.
Financial Highlights
For the July-September quarter, net profit rose to 449.6 billion yen ($2.8 billion) from 311 billion yen a year earlier. Quarterly sales increased 10% to 3.4 trillion yen.
Film and Gaming Boost
The blockbuster “Spider-Man: Brand New Day” contributed significantly to the earnings increase. In the gaming segment, Sony sold 2.6 million PlayStation 5 units during the quarter, down from 4 million a year ago, though the console’s lifecycle typically sees declining sales over time.
Currency and Chip Challenges
A weaker Japanese yen, trading around 158 to the dollar compared with 154 a year ago, lifted the value of overseas earnings. Meanwhile, the company faces a semiconductor shortage linked to the artificial intelligence boom.
Revised Forecast
Sony raised its full-year profit forecast through March 2027 to 1.3 trillion yen from a previous 1.2 trillion yen, which would exceed the 1 trillion yen earned in the prior fiscal year. Shares closed 7% higher in Tokyo ahead of the announcement.
