Skip to main content

Sony predicts big jump to record annual profit on winning gaming strategy

TOKYO: Japan’s Sony Corp boosted its annual profit outlook by 30 percent to a record level after a strong second-quarter, propelled by popular game titles like “Marvel’s Spider-Man” as well as growing demand for its online gaming services.

The results are a vindication of a strategic shift by the entertainment and electronics firm to build up businesses like gaming which is less susceptible to the earnings ups and downs seen in consumer electronics. “Sony has become, more than most people realize, a company that generates profit through content. Until just a few years ago, the worry was always that it was going to revise down on hardware woes but now it has transformed to generate stable earnings,” said Hideki Yasuda, an analyst at Ace Securities.

Sony now expects annual operating profit of 870 billion yen ($7.7 billion), a level that comfortably beats market expectations of 796 billion yen.

Big gaming hits exclusive to Sony have offset declining sales for its mainstay PlayStation 4 console, now five years old. Action-adventure title “God of War” was released in April while “Marvel’s Spider-Man” was released in September.

“We’ve been very blessed with some blockbuster titles,” Chief Financial Officer Hiroki Totoki said at an earnings briefing. “The lineup will remain strong in the second half of the year.”

Its PlayStation Plus subscription-based service has also seen robust growth in subscriber numbers while in the Japanese mobile gaming market, role playing game “Fate/Grand Order” published by a unit of Sony’s music division continued to deliver a strong performance.

In the second-quarter, operating income climbed 17 percent to 239.5 billion yen. Profit for its gaming division surged 65.5 percent.

Sony also raised its annual profit forecast for its semiconductor division, which includes imaging sensors, by 17 percent to 140 billion yen.

Although the global smart phone market is maturing, demand for Sony’s image sensors has remained healthy as phone manufacturers introduce multiple-lens camera systems for high-end models.

Overall revenue climbed just 5.5 percent in the second quarter to 4.1 trillion yen, with games accounting for a quarter of that.

The post Sony predicts big jump to record annual profit on winning gaming strategy appeared first on ARYNEWS.



from ARYNEWS https://ift.tt/2Df6xTq
Labels:

Comments

Post a Comment

Popular posts from this blog

Today’s outlook: Sindh CM discusses reopening markets with PM Khan

Here are some of the stories we are expecting to follow today (Thursday): Sindh Chief Minister Murad Ali Shah will take Prime Minister Imran Khan into confidence over reopening shops and markets across the province. The reopened markets will have to follow SOPs. Sindh Transport Minister Awais Qadir Shah will discuss SOPs with transporters for resuming public transport in the coming days. The meeting will be held at the Sindh Assembly building at 1:30pm. The Oil and Gas Regulatory Authority has proposed a price cut of Rs20.68 per litre for petrol in its summary. Imam-e-Kaaba Sheikh Abdul Rahman Al-Sudais has said Masjid Al Haram and Masjid Al Nabawi will be reopened for worshipers soon. He said the Kaaba is being sterilised using latest technologies. Punjab Chief Minister Usman Buzdar will head various meetings during his visit to Bahawalpur. As of Thursday, Pakistan has reported more than 15,500 confirmed coronavirus cases. ICYMI: An amendment to the National Accountability Or...
Post a Comment
Read more

Today’s outlook: Federal Cabinet discusses COVID-19, Islamabad eases lockdown

Here are some of the news stories we are expecting to follow today (Tuesday): Prime Minister Imran Khan will chair a meeting of the Federal Cabinet in Islamabad to discuss the current situation in the country because of the novel coronavirus. The Cabinet will approve decisions made in the last Economic Coordination Committee meeting along with a relief package for journalists. The Islamabad High Court will hear a case pertaining to giving relief to textile mills in paying their electricity bills. The court had asked the mill owners to ensure a guarantee that they’ll not lay off any daily wage worker. The Sindh government has resumed operations of 153 more factories. They have directed them to follow all SOPs. The Islamabad administration has eased the lockdown. Hiking trails and parks across the federal capital have been reopened for the public. Sindh Governor Imran Ismail has tested positive for the novel coronavirus. He is the second politician from Sindh, after Education Minis...
Post a Comment
Read more

Rouhani calls Imran, discusses resumption of trade

ISLAMABAD: Pakistan and Iran on Wednesday discussed full resumption of bilateral trade, which was halted last month because of the Covid-19 pandemic. “The two sides stressed the need to reactivate borders and border markets and strengthen trade ties by following health guidelines,” a statement issued by the Iranian presidency on the telephonic conversation between Prime Minister Imran Khan and President Dr Hassan Rouhani said. President Rouhani had called the prime minister for Ramazan greetings. Border trade between the two countries was suspended after a meeting of the National Security Committee (NSC), held on March 13, decided to close all borders because of the pandemic. Islamabad partially relaxed the restrictions on April 21, allowing the import of certain food items and provision of petrol and diesel to the border areas. Cargo traffic from Iran was allowed for three days every week. Cargo movement between the two countries takes place through five border crossings — Taftan...
Post a Comment
Read more