SONY Stock Recent News

Sony COO Hiroki Totoki said his firm will not make another proposal for the entertainment conglomerate owned by Shari Redstone's holding company.

SONY's fiscal first-quarter performance benefits from steady momentum across G&NS, Music, Pictures, ET&S and I&SS segments amid softness in the financial services business.

Sony Group Corporation (NYSE:SONY ) Q1 2024 Earnings Conference Call August 7, 2024 3:00 AM ET Company Participants Hiroki Totoki - President, COO and CFO Naomi Matsuoka - Senior Vice President, In charge of Corporate Planning and Control, Lead of Group DEI, Support for Finance Business and Entertainment Area Sadahiko Hayakawa - Senior Vice President, In charge of Finance and IR Kazuhiro Yamada - Senior Managing Director & CFO, Sony Financial Group Inc. Conference Call Participants Mikio Hirakawa - BofA Securities Ryosuke Katsura - SMBC Nikko Securities Yasuo Nakane - Mizuho Securities Junya Ayada - JPMorgan Securities Unidentified Company Representative It's time. We'd now like to start the Sony Group Corporation Consolidated Earnings Announcement Meeting.

Hiroki Totoki, Sony's chief financial officer, said the Japanese tech giant has no plans to submit a revised offer for Paramount. Totoki's comments mark a confirmation that Sony no longer plans to pursue Paramount, after independent film studio Skydance Media struck a deal to acquire the media giant.

Sony Group Corp (NYSE:SONY) saw a 10% rise in operating profit in its latest three months even though its PS5 game console sales fell. Good sales of image sensors (for cameras in mobile phones) offset the dip in video game revenues though console profits rose and the entertainment giant was confident enough to raise its full-year profit forecast by 3%.

Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors.

Sony Pictures Entertainment posted first quarter operating incoming of $73M, down over 36% year-on-year on a U.S. dollar basis. Revenues also slipped 7% from $2.32B to $2.

Sony on Wednesday booked a 10% rise in operating profit in the April-June quarter, beating analyst estimates, boosted by the strength of its industry-leading image sensor business.

Sony reported a 10% jump in operating profit in the fiscal first quarter, beating analyst expectations.

Investments in innovative solutions that enhance experience are likely to aid Zacks Audio Video Production industry participants like Sony (SONY), Panasonic (PCRHY) and Sonos (SONO) amid cautious discretionary spending.