Sony lifts annual earnings outlook as profits surge
- The firm now expects to earn 1.33 trillion yen ($8.4 billion) for the year to March
Sony upgraded its annual earnings forecast, projecting 1.33 trillion yen, driven by robust sales in its games, music, and movie segments, with Q2 net profit up 44 percent.
- Strong sales of new game titles and favorable foreign exchange rates.
- Theatrical revenue boost from "Spider-Man: Brand New Day" success.
- Anticipated impact of the upcoming "Grand Theft Auto VI" launch.
TOKYO: Sony upgraded its annual earnings forecast for the current fiscal year on Thursday thanks to robust sales of its games, music and movies.
The firm now expects to earn 1.33 trillion yen ($8.4 billion) for the year to March, up from the previous upgraded forecast of 1.21 trillion issued in July.
The Japanese tech-entertainment conglomerate said second-quarter net profit jumped 44 percent to 449.6 billion yen, driven largely by games and films.
For the game operations, sales were helped by favourable foreign exchange rates but also strong sales of new titles.
In the movie segment, it noted an “increase in theatrical revenues primarily due to the contribution of ‘Spider-Man: Brand New Day’”.
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The film was released in July and was a blockbuster success.
The game segment is also expected to benefit from the eagerly awaited November launch of “Grand Theft Auto VI”, which is predicted to be the biggest release in gaming for years.
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