Sony reported a modest 1% rise in quarterly revenue to $23.68 billion while delivering a much larger improvement in operating profit, which climbed 22% to $3.3 billion. With the Japanese company’s fiscal year ending in late March, management said that after three quarters it has raised its full-year operating profit forecast by 8% to $9.8 billion.
Shares reacted positively to the results, initially jumping about 5% before trimming gains to roughly 0.9% above the prior close. Sony now expects full-year revenue of approximately $78.3 billion, a 3% increase over its previous projection, and net profit of about $7.2 billion, roughly 8% higher than earlier guidance.
Company executives attributed much of the improved financial picture to a recovery in demand for image sensors used in smartphones. Revenue from that business grew more than 20% in the quarter; observers noted that strong sales of the latest iPhone likely contributed, since Apple is a major buyer of such sensors.
Last month Sony unveiled a restructuring that will transfer its television operations into a joint venture with TCL Electronics. Management says this move accelerates the company’s shift away from consumer electronics manufacturing toward becoming a broader entertainment-focused holding, concentrating on gaming platforms, music and film. The music division recorded a 12.6% increase in revenue in the quarter.
Across the first three quarters of the fiscal year, Sony’s net income rose about 12% to $6.0 billion and operating income jumped 21% to $8.1 billion. Overall revenue for that period grew 2% to roughly $60 billion, supported by higher receipts from media businesses and streaming services.
Within the gaming and network services segment, however, quarterly revenue fell about 4% year‑on‑year to $10.3 billion. PS5 shipments for the quarter dropped 16% compared with the prior year, totaling 8 million units. Lifetime PS5 sales since the 2020 launch have reached 92.2 million units.
Despite softer hardware sales, Sony’s emphasis on digital distribution and recurring-revenue services helped offset the decline: PlayStation Network subscriber counts increased in the quarter and digital sales and subscriptions boosted profitability. As a result, operating profit in the gaming segment rose about 19% to $897 million.
Sony also warned that rising component costs and an ongoing memory shortage continue to pressure its hardware businesses. Company officials said they have built up memory inventories to better position themselves for the autumn sales season and that talks with memory suppliers are continuing. Reporting on these developments drew on coverage from Nikkei, CNBC and Reuters.