Sony’s latest financial results are being highly anticipated by investors after the technology and media group raised its full-year profit forecast following an earnings beat in the third quarter on record PlayStation 5 console sales.
The Tokyo-based group is set to hand down its results for the fiscal fourth quarter 2022 and fiscal 2022, which ended on March 31, 2023, before the market opens on Friday, April 28.
With the release of its 3Q fiscal 2022 results in February, the company said it was raising its fiscal 2022 operating profit forecast from ¥1.16 trillion to ¥1.18 trillion, a 1.7% increase.
It also raised its net profit expectation from its November forecast of ¥840 billion to ¥870 billion for the year, a 3.6% increase but below its net profit in fiscal 2021 of ¥882 billion.
The company said it expects to report full-year fiscal 2022 revenue of ¥11.5 trillion, downwardly revised by 0.9% from its November forecast of ¥11.6 trillion, compared to revenue of ¥9.9 trillion for the previous financial year.
Earnings per share for full-year fiscal 2021 came in at ¥705.16.
Sony did not provide guidance for its 4Q performance but analysts, on average, expect the company to report earnings per share of about ¥67 yen (US$0.50) for the quarter, according to Zacks Investment Research.
In the year-ago quarter, the company achieved earnings per share of ¥88.98 on revenue of ¥2.3 trillion.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie