Sony Shares arises after the earning forecast of fiscal year 2024 stronger

Share Sony group increased to 10.7% on Friday after The company increased its income and profits forecast for its current financial year that ends in March.

The Japanese technology and entertainment conglomerate announced on Thursday that it is increasing its perspective for annual operational profits to 1.34 billion yen ($ 876 billion), a 2% increase over the previous financial year.

He also expects sales of the whole year to reach 13.2 billion yen, 4% more than their November forecast, thoroughly stronger in their playing and music business in the third quarter.

For the quarter of December, the company’s operational income reached 469.3 billion yen, 1% more than a previous year.

Sony, which stood out in the 1980s for its electronic consumer products such as The Walkman, has expanded its offers to include movies, music and play consoles such as the popular PlayStation.

Operational profits in their game business increased 37% in their third fiscal quarter, promoted by higher sales in network services, hardware and software of third parties.

The company sold 9.5 million units of its PlayStation 5 console in the quarter of December, compared to 8.2 million in the same period of the previous year. This carries total sales for the life of the PS5 to 74.9 million units, based on Sony’s results for the most recent quarter and the previous years.

Speaking in his results session on Thursday, the president and CEO of Sony, Hiroki Totoki, said that the number of monthly active users on PS platforms in December increased 5% by year to reach 129 million accounts. “The highest number in the history of PS“

“The total game time also increased by 2% year -on -year, marking the seventh consecutive quarter of year -on -year growth,” he added.

Damian Thong, Chief of Equity Research of Japan and senior research analyst, technology sector, in Macquarie Capital, said the company has been “quite cheap in recent months (with) some of its peer groups with strong runs , “name” Nintendo As an example.

He believes that Sony’s actions have “some ways” to advance.

In the future, Thong is particularly optimistic in the perspectives of Sony’s games division.

“They have a good board in the first -party team and significant releases in the third -party team, and with the cost cuts they made last year, I am quite sure that they will see strong growth in the games in the next fiscal year,” . He told CNBC Signs Asia street on Friday.

– CNBC Ryan Browne contributed to this report.