Sony Q3 Sales Up 22%, Net Income Jumps 13%

TOKYO, Japan - Sony Corporation reported robust third-quarter results that defied headwinds in the game industry.

Continued growth across multiple segments led to a 22% year-on-year increase in consolidated revenues to JPY 3,747.5 billion ($24.6 billion).

On a constant currency basis, revenue increased 17%.

Operating income also increased 10% to JPY 463.3 billion ($3.07 billion), while adjusted EBITDA increased 14% to JPY 605 billion ($4.02 billion).

Net income attributable to Sony Corporation increased 13% to JPY 363.9 billion ($2.42 billion).

The Game & Network Services segment reported mixed results.

Revenue increased 16% to JPY 1,444.4 billion ($9.59 billion), driven by sales of non-first-party titles.

However, increased hardware losses led to a 26% drop in operating income to JPY 86.1 billion ($572 million).

Sony's other businesses fared better. Music sales jumped 16%, helped by streaming and merchandise/licensing growth.

Pictures saw a 10% increase in sales, with gains in TV licensing and home entertainment.

Imaging & Sensing Solutions delivered strong results, while Financial Services experienced revenue volatility due to market fluctuations.

Sony has raised its full-year forecast and expects sales of JPY 12,300 billion, operating income of JPY 1,170 billion, and adjusted EBITDA of JPY 1,785 billion.

US$1: JPY 150.50