TOKYO: Sony reported a 45 per cent rise in second-quarter operating profit on Thursday, beating market estimates, while rival Nintendo posted an earnings slide.
The divergent financial results highlight how technology companies navigate memory chip shortages driven by the artificial intelligence infrastructure boom.
Sony’s operating profit reached 622.3 billion yen ($3.95 billion), above the average analyst estimate of 505 billion yen.
The stronger performance prompted the Japanese entertainment conglomerate to lift its full-year profit forecast by 9 per cent.
Hit movie releases and resilient image sensor sales contributed to the gains, even as the company sold 2.6 million PlayStation 5 units, down from 4 million a year earlier.
Nintendo reported that operating profit fell 16 per cent to 73.9 billion yen, missing market expectations amid lower sales.
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Nintendo President Shuntaro Furukawa stated that the company maintained its full-year profit forecast and targeted sales of 16.5 million Switch 2 units.
Industry analysts noted that Sony’s gaming division faces pressure from higher memory prices but anticipates a boost from upcoming software releases later in the month.
(With additional input from Reuters)
