TOKYO -- Sony Group reported on Wednesday a 9% rise in net profit in the first quarter, despite a slowdown in its breadwinner gaming business, which thrived during the height of the COVID-19 pandemic.
Net profit was 212 billion yen ($1.9 billion) for the April-June period while operating profit increased 26% to 280 billion yen. Revenue jumped 15% to 2.2 trillion yen.
The company's gaming business took a dive, with operating profit declining 33% due to a decrease in software sales and add-on content.
Meanwhile, its electronics segment grew in sales and profit, driven by strong sales of TVs, digital cameras and audio equipment.
Sony's first-quarter net profit results surpassed analysts. According to FactSet, the consensus for net profit was 150 billion yen. However, operating profit fell short of expectations of 215 billion yen.