Sony Group Corp (6758.T) reported a record yearly profit on Friday thanks to strong music and semiconductor sales, but it forecasted a lesser profit for the year to March.
Operating profit at the Japanese electronics and entertainment company rose 0.5% to 1.21 trillion yen ($8.96 billion) for the year ended March 31.
Sony anticipates its operating profit to drop 3.2% to 1.17 trillion yen this year. However, Refinitiv data shows analysts’ average profit estimate is 1.275 trillion yen.
Sony, which competes with Xbox maker Microsoft Corp (MSFT.O) and Switch maker Nintendo Co Ltd (7974.T), sold 19.1 million PlayStation 5 (PS5) gaming machines last year, up from 11.5 million a year earlier.
As components availability improved, Sony was able to increase PS5 production.
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