GoKawiilJapanese entertainment giant Sony on Friday said it expects annual profit to rise as revenue from some business segments in the fourth quarter helped offset headwinds from a memory price crunch.
Here are Sony's fourth-quarter results compared with LSEG estimates:
Revenue: 3.036 trillion Japanese yen ($19.4 billion) compared to analyst estimates of 2.896 trillion yen.
Operating profit: 164 billion yen compared to analyst estimates of 278 billion yen.
While hardware sales fell to 110 billion yen in the fourth quarter, compared to 183 billion yen in the same period last year, revenue was bolstered by strong performances in Sony's image sensor and music businesses.
Total sales of the PlayStation 5 fell to 1.5 million units in the fourth quarter, down from 2.8 million a year ago.
Sony predicted that net profit for its upcoming financial year ending March 2027 will rise 13% to 1.16 trillion yen, compared to the 1.03 trillion yen profit it made this year.
The company also said it would buy back up to 500 billion yen in shares over the next year.
Shares in the company remained steady, with the stock trading down 0.5% as of market close on May 8.