Sony Group Corp. reported a 32% rise in net profit for the April-June quarter, driven by strong demand in its games and music businesses, while warning that the financial impact from the July 28 earthquake in Kumamoto remains unclear. Net profit reached 342.2 billion yen, up from 259 billion yen a year earlier, and quarterly sales rose 8% to 2.84 trillion yen. The company sold 1.6 million PlayStation 5 units during the quarter, up from 1.5 million in the previous three months, and its music division benefited from streaming and publishing, including catalog sales from Michael Jackson and new releases from Ella Langley and Bad Bunny. Sony’s semiconductor facilities in the quake-hit area were affected, with production still suspended at one site, but the company has not yet quantified the impact on its full-year forecast of 1.2 trillion yen in net profit. The film unit underperformed due to fewer box office releases, though the Crunchyroll streaming service continued to grow.
Sony Group CorporationStrong demand in games and music drove 32% profit growth, with PS5 sales up and music streaming gains.