Sony Group Shares Rise After Strong Earnings, Bucking Market Selloff
By Kosaku Narioka
Sony Group shares rose, bucking a broader market selloff, after it reported sharply higher quarterly profit and boosted its annual earnings forecasts.
Shares were 2.5% higher at 4,316 yen, equivalent to $27.37, on Friday in Tokyo after rising as much as 5.7% earlier. The benchmark Nikkei Stock Average was 6.3% lower.
The Japanese entertainment and electronics company said after Thursday's market close that net profit climbed 44% from a year earlier for the three months ended September.
The company said the latest installment of its Spider-Man franchise grossed more than $2.5 billion worldwide, also helping other business lines through increased sales of related game titles and streaming of the movie's soundtrack.
Operating profit rose across segments, led by its game and movie divisions. Quarterly operating profit for its game business climbed 83%, fueled by sales of in-house titles and sales from network services.
For the fiscal year ending March 2027, the company projected revenue to increase 4.2% to Y13.000 trillion and net profit to climb 29% to Y1.330 trillion. It previously forecast revenue of Y12.500 trillion and net profit of Y1.210 trillion.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
November 05, 2026 20:30 ET (01:30 GMT)
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