Sony Group Corp's stock soared over 5% in pre-market trading on Thursday, following the company's impressive fiscal third-quarter earnings and an upward revision to its full-year revenue forecast.
The Japanese tech and entertainment giant reported Q3 net profit of 373.74 billion yen ($2.42 billion), up 2.7% year-over-year and beating analyst estimates. Revenue grew 18% to 4.410 trillion yen, also exceeding expectations.
Driven by robust performances in its gaming and music businesses, Sony now expects fiscal 2024 revenue to increase 1.4% to 13.200 trillion yen, up from its prior guidance of 12.710 trillion yen. The company raised its operating profit outlook for the game segment to 380 billion yen and music to 340 billion yen.
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