Sony reports 69% jump in operating profit, beating expectations

Sony reported a 69% jump in operating profit Thursday, smashing analyst expectations.

Here’s how the Japanese tech giant did in the September quarter, versus LSEG consensus estimates:

• Operating profit: 445.1 billion yen ($2.91 billion), versus 336.07 billion yen expected. That’s up 69% year-over-year and beats analyst expectations.

Last quarter, Sony reported a 10% in operating profit, as the electronics giant’s performance was boosted by the release of R&B singer Beyonce’s “Cowboy Carter” album.

Sony’s gaming division has held up well thanks to a shift to digital game purchases and the PlayStation Plus subscription service. However, hardware shipments have proven lackluster amid a weak console market beset by a lack of hyped up triple-A games.

Analysts expect things to improve next year for the gaming sector, though — not least thanks to the anticipated launch of a next-generation Nintendo Switch model and the release of Grand Theft Auto VI.

This is a breaking news story. Please refresh for updates.