Sony raised its profit outlook after reporting stronger-than-expected earnings, buoyed by its entertainment portfolio and resurgent demand for its premium smartphone camera sensors.
The Tokyo-based conglomerate now expects ?1.43 trillion ($9.3 billion) in operating profit for the year through March, 7.5% up from its previous guidance. This was in part because the company has lowered its projection for the impact of U.S. tariffs. Sony also reported operating profit of ?429 billion in the quarter through September, beating analyst estimates as sales surged thanks to blockbuster movies like ¡°Demon Slayer: Kimetsu no Yaiba Infinity Castle.¡±
Its shares rose as much as 6.7% in Tokyo on Tuesday, their highest intraday gain in over a month. Sony also announced a new ?100 billion buyback of its shares and matched Kyoto-based rival Nintendo in lifting its projections and signaling resilient entertainment demand.
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