Sony Raises Profit Forecast on Strong Music, Gaming Performance

Sony Group Corp. has increased its projected revenue and profit for the fiscal year ending in March, driven by strong performance in its music and gaming software sectors. The company exceeded profit expectations for the June quarter, fueled by popular first-party games and favorable exchange rates. Despite lower-than-anticipated PlayStation 5 console sales, Sony`s music division emerged as a significant profit driver, benefiting from its extensive music catalog, the global popularity of Japanese anime, and revenue from merchandise, live events, and streaming services. While the company experienced growth in image sensor sales due to a recovering smartphone market, analysts caution that a strengthening yen could pose challenges for Sony`s future earnings.