Japanese entertainment conglomerate Sony reported Wednesday a $1.8 billion (¥253 billion) operating income for the fiscal first quarter, marking a 31% decline compared to the same period last year, dragged by its life insurance unit.
The operating income recorded surpassed analysts’ estimates of around $1.8 billion.
Revenue during the three months to June was $20.7 billion, up 33% from the $15.4 billion reported in the same period last year due to a solid performance in its games business, the company said in a statement.
During the quarter, Sony sold 3.1 million units of its PlayStation 5, a 29% increase year-over-year. However, compared to the December quarter, the numbers are softer. The company’s pictures division saw a dip in revenue, down 6% to $2.3 billion.
For the current financial year, Sony is expecting to sell a record 25 million PlayStation 5 units, up from the 19.1 million units in the previous year.
Sony nudged up its net income forecast by 2% to $6 billion and revised its sales outlook by 6% to $85.2 billion. Outside its core games division, which the Tokyo-based firm expects to have a bumper year, Sony cut its outlook on its image sensors
