Asia Tech Wire (Aug 7) -- Japan's Sony Group raised its fiscal 2024 forecast on Wednesday amid a 10.3% increase in quarterly operating income.

Sony announced its financial results for the first quarter ended June 30, 2024, showing that the company achieved an operating income of 279.106 billion yen, up 10.3% from a year earlier.

It expects operating income for the fiscal year ending March 31, 2025 to improve to 1.31 trillion yen, compared with the previous estimate of 1.28 trillion yen.

Sony said it has sold more than 61 million units of the PlayStation 5 (PS5) game console.

According to the latest results, Sony's first-quarter revenue from games and network services rose 12.1% year-on-year to 864.911 billion yen, while operating profit jumped 32.6% to 65.209 billion yen.