Sony's Q2 Profit Surges on Gaming And Sensor Gains, But PS5 Sales Decline, Raises Full-Year Outlook

Sony Group Corp (NYSE: SONY) reported fiscal second-quarter 2024 consolidated sales growth of 3% year-on-year to $19.44 billion (2.91 trillion Japanese yen), missing the analyst consensus estimate of $19.62 billion. 

EPS of $0.37 (55.74 yen) beat the analyst consensus estimate of $0.27.

Segments & Profits: Game & Network Services (G&NS) revenue increased 12% Y/Y to ¥1.07 trillion, and operating income climbed 184% Y/Y to ¥138.8 billion.

Higher sales of non-first-party game software titles and from network services, mainly PlayStation Plus, drove the growth.

Music revenue rose 10% Y/Y to ¥448.2 billion, and operating income increased by 12% Y/Y to ¥90.4 billion.  Higher revenues from live events, merchandising and licensing in Recorded Music and revenues from ...