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Thursday, April 25, 2024

Sony forecasts record profit after PlayStation 5 launch

As well as sales in the gaming sector, Sony’s strong earnings were driven by strong demand for imaging sensors.

TOKYO: Sony said Wednesday it expects a record net profit this financial year as fresh virus lockdowns continue to boost demand for games and consoles, including the recently released PlayStation 5.

Although the pandemic has hit many industries hard, the gaming sector has been one of the few to experience an unprecedented boom, with people seeking entertainment at home during successive rounds of restrictions.

The Japanese tech giant said net profit jumped 87% in April-December from the same period earlier, to 1.1 trillion yen ($10 billion).

The firm revised upwards its full-year sales and profits forecasts on the back of “higher-than-expected sales in all segments except for the pictures…

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