Sony raises annual profit outlook on strong gaming, ‘Demon Slayer’

TOKYO (Reuters) – Sony Corp on Wednesday raised its annual profit outlook after reporting a surprise second-quarter profit increase, as its gaming business continued to capture “nesting” demand driven by COVID-19 lockdown measures.

The Sony logo is seen on a building in the Manhattan borough of New York City, New York, U.S., January 16, 2019. REUTERS/Carlo Allegri/Files

The upward revision also partly reflects a robust start for Japanese animated film “Demon Slayer”, co-distributed by Sony’s music unit, which has been shattering box-office records in Japan since its Oct. 16 release.

Higher revenue from gaming and entertainment content gives validation to Chief Executive Kenichiro Yoshida’s strategy to increase recurring revenue streams that cushion the impact of volatile hardware sales cycles.

July-September profit reached 317.76 billion yen ($3 billion), up 13.9% from 278.96 billion yen in the same period a year prior, the entertainment and electronics firm said in a statement.


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