Sony profits greatly increased, adjusted outlook due to minimal impact of tariffs.

Sony Group announced that its net profit for the first quarter increased, thanks to strong performance in its gaming business. The company also raised its profit outlook for the fiscal year, partly due to the minimal impact of U.S. tariffs. The Japanese electronics and entertainment company said on Thursday that net profit rose by 23% to 259.03 billion yen (approximately 1.76 billion USD) in the three months ended in June compared to the same period last year. Revenue for the first quarter increased by 2.2% to 2.622 trillion yen. Sony stated that it expects U.S. tariffs to drag down its operating profit by 70 billion yen during the fiscal year starting in April, which is less than the previously estimated 100 billion yen. The company currently anticipates a 9.1% decrease in net profit for the full fiscal year to 970 billion yen, which is better than the previous expectation of 930 billion yen. It continues to forecast a 2.8% decrease in revenue to 11.7 trillion yen for the year.