Global Market: Sony Q1 Profit Jumps 32%, Earthquake Impact yet to Be Assessed
Sony said 1.6 million PlayStation 5 units sold as music and imaging gains lifted quarterly profit, while quake damage disrupted semiconductor production.
- On Friday, Sony Group Corp. reported a 32% profit growth for the fiscal first quarter while warning of negative impacts from the 7.1 magnitude earthquake that struck Kumamoto, Japan, earlier this week.
- The 7.1 magnitude quake that struck Kumamoto on July 28 caused at least 34 deaths and halted operations at several factories, forcing the company to assess semiconductor facility damage.
- Net profit for the April-June period rose to 342.2 billion yen, driven by strong results in Sony Music and the video-games division, which sold 1.6 million PlayStation machines during the three months.
- Sony projects a 1.2 trillion yen full-year net profit, up 17%, while the Pictures unit underperformed and subscribers to the Japanese streaming service Crunchyroll continued to grow.
- Separately, camera lens maker Tamron is reviewing an acquisition proposal from Sony, while the company expects 12.5 trillion yen in annual sales through March 2027, maintaining steady growth despite the regional disaster.
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13 Articles
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The Economic Times
Times of IndiaGlobal Market: Sony Q1 profit jumps 32%, earthquake impact yet to be assessed
Sony Group reported a 32% year-on-year rise in first-quarter profit, driven by strong performances in its music, gaming and imaging businesses. However, the company warned it is still assessing the financial impact of the Kumamoto earthquake, which disrupted production at one semiconductor facility.
Associated Press News
Japan's Sony sees profit grow on demand for games, but quake damage still unclear
Sony reported a 32% profit growth in the fiscal first quarter, even as the Japanese entertainment company warned of a negative impact from the earthquake that hit southwestern Kumamoto earlier this week.
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