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Sony Raises Earnings Guidance on Strength in Game, Music Businesses

The Japanese entertainment and electronics company raised its annual earnings projections after its third-quarter net profit rose on strength in its game and music businesses.
Sony Group Corp. has raised its full-year earnings forecast for the fiscal year ending March 2024, driven by robust performances in its gaming and music divisions. The company now expects a net profit of 880 billion yen ($6.1 billion), up from the previous estimate of 860 billion yen. This adjustment comes despite a challenging economic environment, with Sony's gaming sector benefiting from strong sales of the PlayStation 5, which has seen a significant increase in demand. Additionally, Sony's music business has thrived due to growth in streaming services and a recovery in live music events. However, the company also noted weaker performance in its financial services and imaging and sensing solutions segments, which slightly offset the gains from entertainment sectors.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/sony-raises-earnings-guidance-on-strength-in-game-music-businesses/ar-AA1yX4Rb ]