Sony raises profit outlook by a third amid coronavirus home entertainment boom

File pic — AP

TOKYO: Japanese electronics and media giant Sony Corp on Wednesday hiked its full-year profit outlook by a third as it taps surging demand for video games, music and movies as people feast on home entertainment amid COVID-19 lockdowns.

Sony now expects 940 billion yen ($8.95 billion) in operating profit in the 12 months through March compared with the 700 billion yen it previously expected. That prediction is well above an average 812.9 billion yen profit forecast from 18 analysts, Refinitiv data shows.