Sony raises outlook after media helps offset mobile swings

Sony Group raised its full-year outlook for sales and profit after its media divisions outperformed, suggesting resilient consumer spending and a weaker yen is stabilizing the business.

The Japanese electronics and entertainment giant is targeting net sales of ¥12.4 trillion ($82.1 billion) in fiscal 2024, up from ¥12.2 trillion and better than estimated. It stuck with an existing forecast for operating income of ¥1.17 trillion. Notably, its prediction for music and gaming profit both surpassed analysts’ expectations.