Sony raises its profit forecast after saying it expects less damage from Trump’s tariffs
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TOKYO (AP) — Japanese entertainment and electronics company Sony said Thursday that its profit surged 23% in the last quarter from the year before, as damage from U.S. President Donald Trump’s tariffs was less than it had expected.
The Tokyo-based manufacturer reported its April-June profit totaled 259 billion yen, or $1.8 billion, up from 210 billion yen. Quarterly sales edged up 2% to 2.6 trillion yen ($17.7 billion) as demand grew for games and network services, imaging solutions and sensors.
The maker of PlayStation game machines, digital cameras, Walkman audio players and Spider-Man movies said those positive factors offset the negative impact from unfavorable exchanges rates. Sony said its network business also was drawing more subscribers to its online services.
Sony raised its forecast for its profit in the full fiscal year until March 2026 to 970 billion yen ($6.6 billion), from an earlier forecast of 930 billion yen ($6.3 billion). The revised projection is still lower than what it earned in the previous fiscal year at 1 trillion yen.
Sony now estimates the impact of the additional U.S. tariffs on its operating income at 70 billion yen ($476 million), much better than the initial estimate of 100 billion yen ($680 million).
One of the successes among Sony’s entertainment franchises was the latest “Demon Slayer” animation movie, which is part of a hit series and is doing well at the box office.
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Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama