Sony raised its annual profit forecast after reporting a 45 per cent increase in second-quarter operating profit, driven by the blockbuster success of the new Spider-Man movie. The Japanese entertainment group posted operating profit of ¥622bn ($4bn) for the quarter and lifted its full-year outlook by 9 per cent, surpassing analyst expectations. Revenue at Sony’s film division jumped 48 per cent year-on-year, primarily due to the performance of Spider-Man: Brand New Day, which has grossed close to $2.5bn worldwide.
Sony’s games division also saw a 9 per cent revenue increase, boosted by strong sales of Marvel’s Wolverine, which sold 2.4mn copies by early November. The results underscore Sony’s strategic pivot toward entertainment and original content, integrating gaming, anime, film, and music into global franchises. Recent successes include the HBO adaptation of The Last of Us and the animated hit Demon Slayer: Kimetsu no Yaiba.
Shares have risen over a third since June, reflecting investor confidence in Sony’s entertainment ambitions. Analyst David Gibson of MST Financial noted the market underestimated Sony’s film performance, calling it a “huge beat.” Meanwhile, rival Nintendo reported a 16 per cent drop in operating profit, hampered by rising component costs and a lack of new titles, though hopes rest on the upcoming release of The Legend of Zelda: Ocarina of Time.
Source: Financial Times Companies · Summarized by HeadlinesBriefing