Sony posted robust quarterly results on Friday, significantly beating analyst expectations on operating profit and revising its full-year sales outlook. The Japanese tech giant’s September quarter operating profit surged by 73% to 455.1 billion yen ($2.98 billion), well above the 336.07 billion yen forecasted by analysts. Revenue for the quarter rose 9% year-over-year to 2.97 trillion yen, slightly below the expected 3.03 trillion yen.
Sony raised its revenue target for fiscal 2025 from 12.6 trillion yen to 12.7 trillion yen, while maintaining its operating profit forecast at 1.3 trillion yen for the full year. The positive results were driven primarily by strength in Sony’s game and network services division, which generated 1 trillion yen in revenue—a 12% increase from the previous year. This growth reflects a continued shift toward digital game sales and an uptick in subscribers for PlayStation Plus, even as console sales faced challenges.
PlayStation 5 unit sales dropped 22% year-over-year, with 3.8 million units sold in the quarter. However, software sales for the PS5 jumped 28% to 612.3 billion yen, thanks in part to new game releases like Astro Bot, which sold 1.5 million units in less than two months. Sony’s release of the upgraded PlayStation 5 Pro on Thursday, equipped with enhanced graphics and AI features, is expected to bolster demand for the console, particularly with the anticipated release of Grand Theft Auto VI next year—a title expected to drive significant interest.
Analysts are optimistic about Sony’s outlook, especially as the broader gaming industry anticipates growth in 2024 with the launch of next-generation consoles, including a new Nintendo Switch model. The company’s performance underscores its resilience in the competitive gaming landscape, positioning it to capitalize on forthcoming game launches and continued demand for digital content.
