Home / World News / 'Spider-Man' propels Sony to forecast-smashing profit in third-quarter

'Spider-Man' propels Sony to forecast-smashing profit in third-quarter

Operating profit was 465.2 billion yen ($4.05 billion) for the three months to Dec. 31

Premium

Photo: Bloomberg

3 min read Last Updated : Feb 02 2022 | 12:56 PM IST

Japan's Sony Group Corp posted on Wednesday a 32% jump in third-quarter operating profit that smashed analysts' estimates, as earnings at its pictures unit surged on the back of the success of "Spider-Man: No Way Home".

Operating profit was 465.2 billion yen ($4.05 billion) for the three months to Dec. 31. That compared with an estimated average profit of 351.6 billion yen from nine analysts surveyed by Refinitiv.

Sony hiked its full-year profit forecast to 1.2 trillion yen from 1.04 trillion yen. That prediction is higher than an average 1.09 trillion yen profit forecast from 24 analysts, Refinitiv data showed.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in