Sony hikes outlook as games help offset smartphone weakness

Sony Group Corp. raised its full-year forecast as its PlayStation and entertainment arms sustained momentum even as a sluggish global economy hurt other operations.

Boosted by a weaker yen, the Tokyo-based company nudged up its net income forecast by 2% to ¥860 billion ($6 billion), closer to but still missing analyst estimates. Sony also revised up its sales outlook by 6% to ¥12.2 trillion. It left its full-year operating profit outlook unchanged.

Supply constraints that dogged the PlayStation 5 since the game console’s launch in 2020 are now history, and Sony is working to catch up on lost time.