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Sony's Q2 Profit Surges 73%, Beats Estimates; Revenue Up 9%; Raises Forecast Amid Gaming Strength
Nov 8, 2024, 07:45 AM
Sony reports a significant surge in profits for the July-September quarter, with operating profit rising 73% year-on-year to $2.96 billion, beating estimates of $2.18 billion. The company's revenue increased by 9% to $19.45 billion. Strong performance in its game and network services, with sales rising 12% to $7.01 billion, and strength in its image-sensor business helped offset weakness in its movie division. However, sales of the PlayStation 5 (PS5) consoles fell to 3.8 million units from 4.9 million units a year ago. For the first half of the fiscal year, operating profit jumped 42%. Sony raised its full-year revenue forecast, citing strong results in its entertainment segments, including games and music. Sony's shares rose 7% in pre-market trading following the announcement.
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