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Investing.com - Japan-listed shares in Sony Corp (TYO:6758) rose on after the company raised its annual guidance, citing an anticipated hit from sweeping U.S. tariffs that is less than had been initially feared.
The electronics to entertainment conglomerate’s operating income for the June quarter rose 36% to 340 billion yen ($2.30 billion), beating Reuters estimates of 288 billion yen.
Net profit rose 23% to 259.0 billion yen, while sales rose 2% to 2.62 trillion yen.
The strong print was driven chiefly by Sony’s flagship gaming and network services unit, as well as its image sensors business.
Sony (NYSE:SONY) slightly hiked its operating income and net profit forecasts for 2025, with the company now seeing a smaller impact from trade tariffs than originally projected.
The firm said it expects the levies to dent results by 70 billion yen, versus an earlier forecast of 100 billion in May. It noted that this was based on tariff rates on August 1 and flagged that the situation around the duties could still change.
Operating income is expected at 1.33 trillion yen in 2025, higher than prior forecasts that it would remain largely flat at $1.28 trillion yen.
Net profit is expected at 970 billion yen, higher than prior forecasts of 930 billion yen but lower than the 1.07 trillion yen seen in 2024.
(Scott Kanowsky contributed reporting.)