Sony profits surge 44 per cent on Spider-Man film and gaming

Summarised from 2 outlets · Updated 5 Nov, 12:50 · Archive

Sony's July-September quarterly profit rose 44 per cent to 449.6 billion yen, boosted by its Spider-Man: Brand New Day film and PlayStation 5 console sales.

Sony Group Corp reported a 44 per cent surge in profit for the July-September quarter, with earnings of 449.6 billion yen, up from nearly 311 billion yen in the same period a year earlier. The Japanese electronics and entertainment company attributed the rise to the box office success of its Spider-Man: Brand New Day film and continued demand for its PlayStation 5 game consoles. Quarterly sales edged up 10 per cent to 3.4 trillion yen, and operating profit and sales rose across its games, music and pictures divisions.

Sony sold 2.6 million PlayStation 5 consoles in the quarter, compared with four million a year ago, a decline typical as the machine matures since its 2020 launch. The company also benefited from the weakness of the Japanese yen, which increased the value of overseas earnings when converted to yen. The US dollar has been trading at about 158 Japanese yen, up from 154 yen a year earlier. Sony faces challenges including computer chip shortages linked to the artificial intelligence boom, though the yen weakness has offset some of these pressures.

Sony raised its profit forecast for the full fiscal year through March 2027 to 1.3 trillion yen from an earlier 1.2 trillion yen, which would mark an improvement from its one trillion yen net profit in the previous fiscal year.

How it is being reported

• Sony posts hefty profit on back of hit Spider-Man movieJapanese giant Sony's quarterly profit has surged thanks to the success of its blockbuster Spider-Man: Brand New Day, and PlayStation sales.The West Australian · 5 Nov, 12:14
• Sony posts hefty profit on back of hit Spider-Man movieJapanese giant Sony's quarterly profit has surged thanks to the success of its blockbuster Spider-Man: Brand New Day, and PlayStation sales.Perth Now · 5 Nov, 12:14

In this story: Sony Group Corp · PlayStation · Japan

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