Sony raised on Thursday its operating profit forecast for the year ending in March by 2% to 1.34 trillion yen ($8.70 billion), citing the strength of its gaming business. Once best known for consumer electronics such as the Walkman,

The Japanese entertainment and electronics company raised its annual earnings projections after a rise in third-quarter net profit on the strength in its game and music businesses.

The December quarter is a key period for Sony, covering the holiday shopping season which is often a lucrative time for consumer electronics firms.

Sony on Thursday hiked its operating profit forecast for the year ending March by 2% to 1.34 trillion yen ($8.70 billion), citing the strength of its key gaming business.

Sony Group Corporation turned in a strong third quarter for 2024, riding high on gaming and music while its film unit faced headwinds.