Sony announced a 73% increase in operating profit for the July-September quarter, driven by strong sales in its gaming and network services divisions, offsetting production delays in the television sector.
Hiroki Totoki, president of Sony, said that the profitability of the gaming hardware business has improved, in addition to the increase in sales of third-party software. “ We see a smooth transition from PS4 to PS5, which also supports software sales », declared Mr. Totoki during a press briefing.
The network games and services segment, accounting for more than a third of Sony’s revenue, nearly tripled its profit, reaching 138.8 billion yen for the quarter. The firm also launched an improved version of its game console, offering better quality graphics, on November 7.
Annual profit forecasts for the games division were revised upwards from 320 billion yen to 355 billion yen, leading to a slight revision to the group’s annual revenue forecast, now estimated at 12.71 trillion yen.
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