Sony Reports 13% Profit Rise on Strong Sales

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Sony Reports 13% Profit Rise on Strong Sales

Japanese electronics giant Sony has reported a 13% surge in profit for the October-December quarter, driven by robust sales across its diverse business segments. Quarterly profit reached 363.9 billion yen ($2.4 billion), surpassing the 321.5 billion yen earned in the same period the previous year.

Quarterly sales also saw a significant increase of 22% to 3.7 trillion yen ($24.7 billion). Strong sales were recorded across Sony's various business lines, including financial services, gaming, networking operations, and entertainment ventures such as music and movies. Additionally, a rise in image sensor sales for mobile devices contributed to the company's profitability.

Sony has benefitted from the weakened yen, which has boosted the value of overseas earnings when converted back into the Japanese currency. Despite this favorable exchange rate, Sony's annual profit forecast remains below the 1 trillion yen earned in the previous fiscal year, with the current estimate standing at 920 billion yen ($6.1 billion).