Sony Q3 profit hits record JPY469.3 bln on gaming strength.

Tokyo, Japan—Sony Group Corp (6758.T) reported a 1% increase in third-quarter operating profit to JPY469.3 billion (US$3.07 billion), a record high despite weaker performance in its financial services segment.

The entertainment and technology conglomerate raised its annual sales forecast to JPY13.2 trillion from JPY12.71 trillion, driven by intense gaming and financial services revenues.

The gaming and network services division saw operating profit surge 37% to JPY118.1 billion, supported by increased PlayStation 5 hardware unit sales and higher network service revenue.

Sony's music segment posted a 28% rise in operating profit to JPY97.4 billion, benefiting from streaming revenue growth and the consolidation of eplus Inc.

The financial services unit reported a 40% decline in operating profit to JPY46.4 billion, primarily affected by market fluctuations at Sony Life Insurance.

The company maintained its full-year operating profit guidance at JPY1.335 trillion, slightly above its November forecast of JPY1.31 trillion.

PlayStation's monthly active users reached 129 million in December 2024, a 5% year-on-year increase and a historic high for the platform.

Sony announced a new share buyback program of up to JPY50 billion to be completed by May 2025, following its previous JPY250 billion repurchase program concluded in November.

The company revised its net profit forecast upward to JPY1.08 trillion from JPY980 billion for the fiscal year ending March 2025.

For the quarter, consolidated sales increased 18% to JPY4.41 trillion, while net profit attributable to shareholders rose 3% to JPY373.7 billion.