{"id":630047,"date":"2024-08-07T11:10:01","date_gmt":"2024-08-07T08:10:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sony-hikes-annual-net-profit-forecast-after-solid-q1\/"},"modified":"2024-08-07T11:10:01","modified_gmt":"2024-08-07T08:10:01","slug":"sony-hikes-annual-net-profit-forecast-after-solid-q1","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sony-hikes-annual-net-profit-forecast-after-solid-q1\/","title":{"rendered":"#Sony hikes annual net profit forecast after solid Q1"},"content":{"rendered":"
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\n \"Sony
\n Sony raised its full-year net profit forecast after a solid performance in the first quarter, predicting strong sales in its video game<\/a>, music and image sensor sectors.
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Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors.<\/p>\n

The yen’s weakness against the dollar in recent months has boosted takings for the Japanese electronics and entertainment conglomerate.<\/p>\n

In the April to June quarter, the company logged a six percent jump in net profit on-year to 231.6 billion yen ($1.6 billion), beating analyst estimates.<\/p>\n

Sony now forecasts net profit of 980 billion yen in 2024-25, also a six-percent rise on-year.<\/p>\n

It marks a jump from the previous estimate of 925 billion yen, which would have been lower than the 2023-24 result.<\/p>\n

Music streaming services have been a money-spinner for Sony, which has an impressive back catalogue and whose current roster includes top artists such as Beyonce and Lil Nas X.<\/p>\n

Yasuo Nakane of Mizuho Securities said before the earnings announcement that Sony could log a record high profit this year for its image sensors, which are used in iPhones.<\/p>\n

Sony may also see record profits next year in the gaming sector under new leadership, he said in a recent note.<\/p>\n

“Our near-term outlook includes expectations that platform business group CEO Hideaki Nishino will improve PlayStation 5 supply chain management, including procurement, inventory, and logistics,” Nakane said.<\/p>\n

Nishino is also expected to “maximize PS5 platform profits through a balancing of hardware, software and network operations,” he said. “We believe that both are possible.”<\/p>\n

Sony has also abandoned its rumored bid for US film and television giant Paramount Global, which has agreed a merger with production company Skydance, Japan’s Nikkei business daily reported.<\/p>\n

\n \u00a9 2024 AFP\n <\/p>\n

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Citation<\/strong>:
\n Sony hikes annual net profit forecast after solid Q1 (2024, August 7)
\n retrieved 7 August 2024
\n from https:\/\/techxplore.com\/news<\/a>\/2024-08-sony-hikes-annual-net-profit.html<\/p>\n

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