By Kosaku Narioka


Sony Group Corp.'s second-quarter net profit rose 24% from a year earlier on the strength of its music and electronics businesses, the company said Tuesday as it boosted its fiscal-year guidance.

The Japanese electronics and entertainment group said that net profit for the quarter ended Sept. 30 rose to 263.96 billion yen ($1.77 billion) from Y213.11 billion a year earlier. That beat the estimate of Y218.50 billion in a poll of analysts by Quick.

Second-quarter revenue increased 16% to Y2.752 trillion.

Operating profit from its music business rose to Y78.73 billion from Y50.59 billion, and that of its imaging and sensing business increased to Y73.99 billion from Y49.725 billion.

Sony raised its revenue and net-profit forecasts for the fiscal year ending March 2023, citing higher earnings from its music, imaging and sensing, and movie businesses.

It expects revenue to increase 17% to Y11.600 trillion, compared with the previous forecast of a 16% rise, and projects that net profit will drop 4.8% to Y840.00 billion, compared with the previous view of a 9.3% decrease.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

11-01-22 0251ET