FILE - A logo of Sony is seen at the headquarters of Sony Corp. on May 10, 2022, in Tokyo. (AP Photo/Eugene Hoshiko, File)
TOKYO (AP) — Sony’s profit rose 69% in July-September from a year earlier on the back of strong sales of its image sensors, games, music and network services, the Japanese electronics and entertainment company said on Friday.
Quarterly profit was 338.5 billion yen ($2.2 billion), up from 200 billion yen in the year-earlier period, while consolidated quarterly sales edged up 3% year-on-year to 2.9 trillion yen ($19 billion).
Tokyo-based Sony’s latest quarterly results were boosted by healthy demand around the world for image sensors used in mobile products.
Sales also held up in its video games division. During the latest quarter, 3.8 million PlayStation 5 game consoles were sold globally, compared with 4.9 million units sold the same period a year ago.
Demand remained strong for PS5 game software, according to Sony.
The top-selling music releases from Sony for the quarter included “SOS” by SZA, David Gilmour’s “Luck and Strange” and Kenshi Yonezu’s “Lost Corner.”
One area where Sony’s business suffered was its pictures division, including TV shows and movies, which was impacted by production delays caused by the strikes in Hollywood.
Among the recent hit films from Sony was “It Ends With Us,” a romantic drama based on a novel.
Sony, which also makes digital cameras and TVs, maintained its 980-billion yen ($6.4 billion) profit forecast for the fiscal year through March 2025, up 1% from the previous fiscal year.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
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