Sony Raises Outlook Yet Sounds Cautious Note on PS5 Holiday Goal
- The company raised its outlook for fiscal revenue and profit
- Music has performed well during the broader downturn
Sony Group Corp. raised its full-year outlook for sales and profit after its media divisions outperformed, yet warned that it might be difficult to meet a target for PlayStation 5 sales ahead of the crucial year-end holiday season.
Sony is now targeting net sales of ¥12.4 trillion ($82.1 billion) in the year ending March, up from ¥12.2 trillion and better than estimated. Notably, its prediction for music and gaming profit both surpassed analysts’ expectations. But analysts said some of that stemmed from a weaker yen.