TOKYO, Nov 5 (Reuters) – Sony on Thursday reported a 45% rise in second-quarter operating profit of 622.3 billion yen ($3.95 billion), beating market estimates, due to stronger performance at its games and movies units.
Contributors to the stronger performance, which led the Japanese entertainment and technology conglomerate to hike its full-year profit outlook by 9%, included the hit movie “Spider-Man: Brand New Day”.
Sony’s games business is expected to be a major beneficiary of the launch of “Grand Theft Auto VI” on November 19 but is grappling with higher memory chip prices due to the AI boom.
Companies continue to be squeezed by elevated memory prices, with iPhone maker Apple this week flagging pressure on margins over the holiday quarter.
($1 = 157.8400 yen)
(Reporting by Sam Nussey; Editing by Christopher Cushing and Christian Schmollinger)
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