Sony Q2 profit jumps on 'Spider-Man' and PlayStation boost
SONY•Sony's second-quarter operating profit rose 45% to 622.3 billion yen, beating market estimates, and the company raised its full-year profit outlook by 9%. Stronger performance at its games and movies units contributed to the increase.
1. Profit and outlook rise
Sony reported second-quarter operating profit of 622.3 billion yen ($3.95 billion), up 45% and above market estimates. The company raised its full-year profit outlook by 9%, citing stronger performance at its games and movies units, including the hit movie "Spider-Man: Brand New Day."
2. PlayStation sales and costs
Sony sold 2.6 million PlayStation 5 units during the quarter, compared with 4 million a year earlier. Its games business is expected to benefit from the November 19 launch of "Grand Theft Auto VI," while higher memory chip prices are creating pressure; Sony said in July it had secured enough memory to meet its projected sales volume this year. Sony also lifted its outlook for its chips and music divisions.
