Pandemic-led lockdowns push Sony’s operating profits to record high in June quarter

Japanese tech giant Sony’s operating profit beat estimates to rise to 280.1 billion yen (approx. Rs 18,970 crore) in the June quarter from 221.7 billion yen (approx. Rs 15,010 crore) in the year-ago period. The record operating profit came on the back of robust demand for its PlaySation 5 gaming consoles, music, TVs, and films amid pandemic-induced lockdowns.

The strong first-quarter performance led Sony to raise its forecast. The company has revised its profit forecast to March 2022 to 980 billion yen (approx. Rs 66,360 crore) from 930 billion yen (approx. Rs 62,965 crore).