Sony’s internet revenue jumped within the second quarter due to stronger gross sales in gaming, music and imaging sensors, the PlayStation maker mentioned Friday because it left its annual revenue forecasts unchanged.
The yen’s weak spot towards the greenback and euro had a constructive influence on takings in these key sectors, the Japanese conglomerate mentioned.
However, Sony Pictures suffered from “lower series deliveries” for tv, “in part due to production delays related to the strikes in Hollywood”.
Sony’s earnings launch comes a day after its PlayStation 5 Pro console hit cabinets, with a price ticket that has raised eyebrows amongst players.
In Europe the machine prices an eye-watering 799.99 euros ($860) — 250 euros larger than the older model — and virtually 120,000 yen ($780) in Sony’s house market of Japan.
Sony president Hiroki Totoki advised reporters that whereas “various people have made various comments” in regards to the value, it has not had a destructive influence on gross sales.
For July-September, Sony logged internet revenue of 338.5 billion yen ($2.2 billion), up 69 p.c from 200.1 billion yen in the identical interval a yr in the past.
It nonetheless forecasts a full-year internet revenue of 980 billion yen.
The firm additionally maintained its working revenue outlook, however revised its gross sales forecast upwards barely.
The firm mentioned Friday that a rise in gross sales for imaging sensors — utilized in telephone cameras — in addition to the “positive impact of foreign exchange rates” contributed to progress within the working revenue for that phase.
The yen hit a four-decade low towards the greenback in July, having plunged in worth since early 2022.
Reforms to Sony’s gaming enterprise, together with in price discount and gross sales advertising, “brought a relatively good result for this period”, Totoki mentioned on Friday.
Music streaming can be a money-spinner for Sony, which has a formidable again catalogue and whose present roster contains prime artists corresponding to Beyonce and Lil Nas X.
According to current studies in Variety and the Financial Times, citing sources, British rockers Pink Floyd have agreed to promote their recorded music and name-and-likeness rights to Sony Music for round $400 million.
Acquiring again catalogues “shows our commitment to artists” and “is expected to have a positive impact on our music business”, Totoki mentioned with out giving particulars.
When requested about Donald Trump’s victory on this week’s US presidential election, Totoki mentioned Sony was contemplating, in a broad sense, how greatest to cope with any new tariffs that may very well be imposed.
