Sony’s first quarter financial results | Real Time Headlines

sony The report stated that first-quarter operating profit increased by 10%, exceeding analysts’ expectations.

Here’s how Sony’s performance in the June quarter compared to London Stock Exchange Group consensus estimates:

• Revenue: 3.01 trillion yen ($20.5 billion), compared with 2.8 trillion yen expected. This is an increase of 2% from the same period last year.
• Operating profit: 279.11 billion yen, expected to be 275.35 billion yen. An increase of 10% compared with the same period last year.

The move comes after the Japanese consumer electronics giant reported disappointing full-year 2023 results, with operating profit down 7% The decline compared with the same period last year was due to weakness in the financial services business.

Sony is just shy of hitting its full-year PlayStation 5 sales target for 2023, reporting total sales of 20.8 million units in fiscal 2023. Reduced from previous estimate of 25 million units.