Sony Profit Rises 7% on 'Demon Slayer' Success, Beats Expectations
Tokyo. Japanese electronics and entertainment giant Sony reported a 7 percent rise in profit for July–September compared with a year earlier, the company said Tuesday, prompting it to raise its full-year forecast partly thanks to the blockbuster performance of the film Demon Slayer.
Strong results from Sony’s streaming services, music business, and semiconductor division helped lift third-quarter profit to 311 billion yen ($2 billion), up from 291.8 billion yen in the same period last year.
Quarterly sales for the Tokyo-based maker of PlayStation consoles rose 5 percent to 3.1 trillion yen ($20 billion).
Sony now projects a full-year profit of 1.05 trillion yen ($6.8 billion) for the fiscal year ending in March, up from its previous forecast of 970 billion yen ($6.3 billion). The company posted a 1.07 trillion yen profit in the previous fiscal year.
Growth in income from Sony’s mobile phone sensors also contributed to the improved results.
Sony noted that tariffs imposed by former US President Donald Trump have reduced operating income by about 30 billion yen ($195 million) for the fiscal year. However, this impact is expected to be more than offset by robust revenue from Demon Slayer and strong performance in its music publishing unit.
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