Sony raises guidance on gaming strength, quarterly operating profit beats estimates

Sony’s PlayStation 5 has reported a big jump in operating profit, beating analyst expectations. The company saw strength in its game and network services division, with revenue up 11% year-over-year. Sony revised its fiscal year revenue target slightly higher. The gaming division has been doing well, with a shift to digital game purchases and the PlayStation Plus subscription service. Analysts anticipate improvement in the gaming sector next year, with the anticipated launch of a next-generation Nintendo Switch model and the release of Grand Theft Auto VI.