Sony Group (6758) Q2 2025 earnings summary

Executive summary

• Consolidated sales excluding Financial Services rose 9% year-over-year to JPY 2,973.4 billion; operating income up 57% to JPY 389.3 billion, both record highs for Q2 and H1.

• Including Financial Services, consolidated sales increased 3% year-over-year to JPY 2,905.6 billion; operating income up 73% to JPY 455.1 billion; net income up 69% to JPY 338.5 billion.

• Strong performance in Game & Network Services, Imaging & Sensing Solutions, and Music segments offset declines in Pictures and Financial Services sales.

• Adjusted OIBDA and Adjusted EBITDA increased 47% and 42% year-over-year, respectively.

• Basic earnings per share were 93.84 yen, calculated assuming a five-for-one stock split effective October 1, 2024.

Financial highlights

• G&NS sales up 12% year-over-year to JPY 1,071.5 billion; operating income up 184% to JPY 138.8 billion, a segment record.

• Music sales up 10% year-over-year to JPY 448.2 billion; operating income up 12% to JPY 90.4 billion, driven by live, merch, licensing, and streaming.

• Pictures sales down 11% year-over-year to JPY 355.8 billion; operating income down 37% to JPY 18.5 billion.

• Imaging & Sensing Solutions sales up 32% year-over-year to JPY 535.6 billion; operating income nearly doubled to JPY 92.4 billion, led by mobile image sensors.

• Financial Services revenue fell by JPY 167.2 billion to negative JPY 63.3 billion, but operating income rose by JPY 50.1 billion to JPY 65.7 billion.

Outlook and guidance

• Full-year consolidated sales forecast raised to JPY 12,710 billion; operating income forecast unchanged at JPY 1,310 billion.

• G&NS full-year sales forecast up 4% to JPY 4,490 billion; operating income expected to rise 11% to JPY 355 billion, a segment record.

• I&SS full-year sales forecast revised down 4% to JPY 1,770 billion; operating income down 9% to JPY 250 billion due to customer production adjustments.

• Dividend per share planned at 10 yen (after stock split) for year-end.

• FY2025 consolidated sales and financial services revenue forecast at JPY 12,710 billion, down 2.4% year-over-year; operating income projected to rise 8.4% to JPY 1,310 billion.