Japanese tech and entertainment giant Sony delivered impressive results on Thursday, showing a 45% rise in its second-quarter operating profit. The company reported a profit of 622.3 billion yen ($3.95 billion), surpassing the 505 billion yen average predicted by 12 analysts surveyed by LSEG.
Due to the strong run powered by its games and movies divisions, including the success of 'Spider-Man: Brand New Day', Sony has lifted its full-year profit forecast by 9%. It also upgraded expectations for its music and chip sectors.
Chip price pressures and gaming sales
Even with the win, memory chip costs driven by the AI surge are posing problems. Apple recently pointed to margin pressures, but Sony noted back in July that it had already locked down the memory needed for this year's sales targets.
During the quarter, Sony moved 2.6 million PlayStation 5 consoles, dropping from 4 million during the identical time frame last year. However, its games division is preparing for a major boost when 'Grand Theft Auto VI' arrives on November 19.
Nintendo profit takes a tumble
Meanwhile, rival Nintendo faced a harder time. The Kyoto-based firm posted a 16% fall in operating profit to 73.9 billion yen, trailing analyst expectations because of weaker sales.
Despite investor worries over the memory crunch and few big titles for the Switch 2, Nintendo kept its sales target of 16.5 million Switch 2 units. The firm also launched 'The Legend of Zelda: Ocarina of Time' on Thursday to positive reviews.
