TOKYO (dpa-AFX) - Japanese conglomerate Sony Group Corp. (SON.L, SNE) reported Thursday higher profit and sales in its first quarter, and updated forecast for fiscal year ending March 31, 2026.
In Japan, Sony shares were gaining around 4.8 percent to trade at 3,884.00 yen.
For the first quarter, net income attributable to the stockholders was 236.91 billion yen or 39.18 yen per share, higher than last year's 231.64 billion yen or 37.89 yen per share.
The Financial Services business has been classified as a discontinued operation following the company's decision of a partial spin-off of Sony Financial Group Inc. as of October 1.
On a continuing operations basis, first-quarter net income attributable to the stockholders was 259.03 billion yen or 42.84 yen per share, up 23.3 percent from 210.15 billion yen or 34.37 yen per share last year.
Operating income grew 36.5 percent to 339.96 billion yen from last year's 249.12 billion yen.
Total sales from continuing operations for the quarter grew 2.2 percent to 2.62 trillion yen from 2.57 trillion yen a year ago.
Looking ahead to the fiscal year ending March 31, 2026, the company now expects net income attributable to stockholders to decline by 9.1 percent year-over-year to 970 billion yen. Operating income is projected to rise by 4.2 percent year-over-year to 1.33 trillion yen, while revenues are expected to decrease by 2.8 percent year-over-year to 11.70 trillion yen.
The company previously expected net income to decline 12.9 percent year-over-year to 930 billion yen, operating income to rise 0.3 percent to 1.28 trillion yen, and revenues to decrease 2.9 percent year-over-year to 11.70 trillion yen.
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