Sony's Profit Surges 69% in Third Quarter
Sony Corporation reported a significant increase in profit for the third quarter of its fiscal year, ending September 30, 2023. The Japanese electronics and entertainment giant saw its profit surge by 69% compared to the same period in the previous year, reaching 338.5 billion yen (approximately $2.2 billion). This impressive growth was driven by strong sales across various segments, including image sensors, games, music, and network services.
Consolidated quarterly sales for Sony also experienced a slight increase of 3% year-on-year, reaching 2.9 trillion yen (approximately $19 billion). This growth was primarily fueled by healthy demand for image sensors used in mobile devices worldwide.
The video games division also performed well, with 3.8 million PlayStation 5 consoles sold globally during the quarter. While this figure is lower than the 4.9 million units sold in the same period last year, demand for PS5 game software remained strong.
Sony's music division also saw success, with top-selling releases including "SOS" by SZA, "Luck and Strange" by David Gilmour, and "Lost Corner" by Kenshi Yonezu.
However, the company's movie division faced challenges due to production delays caused by strikes in Hollywood. Despite this, Sony saw success with films like "It Ends With Us," a romantic drama based on a novel.
Looking ahead, Sony maintains its forecast for a 980 billion yen (approximately $6.4 billion) profit for the fiscal year ending March 2025. This represents a 1% increase compared to the previous fiscal year.