Sony's Operating Profit Increased 10% in April-June 2024 Period

Sony reported a 10% increase in operating profit in the April-June 2024 period, with a profit of 279 billion yen. The image sensor business, a key supplier to smartphone manufacturers, saw its profit triple to 36.6 billion yen due to foreign exchange rates and higher sales. Sony raised its full-year profit forecast by 3% with the help of foreign exchange rates. The recent rise in the yen has prompted investors to reassess the outlook for Japanese multinationals, as the weak currency had previously provided a cushion for exporters. In the first quarter, Sony sold 2.4 million PlayStation 5 (PS5) units, fewer than the previous year, but had a bigger profit in the game business. However, the game industry is facing challenges such as rising costs and weakening pricing power, as demonstrated by Sony-owned developer Bungie's recent announcement to cut nearly one-fifth of its game development costs.

https://internasional.kontan.co.id/news/laba-operasional-sony-naik-10-dalam-periode-april-juni-2024
 

Saudi Aramco's profit falls by US$5.6 billion

Saudi Aramco, the Saudi Arabian oil giant, has announced a reduction in first-half profit from $61.9 billion to $56.3 billion. This decline is attributed to a reduction in sales volumes, which has been influenced by concerns about global economic conditions. The decline was primarily driven by lower crude oil sales volumes, weaker refining margins, and lower financial and other revenues. However, this decline was partially offset by higher crude oil prices and lower production royalties compared to the same period last year. Consequently, although profits declined, revenues increased slightly from $218.6 billion to $220.7 billion. Despite the decline in performance, Aramco paid a dividend of $20.3 billion for the second quarter and announced a performance-related dividend of $10.8 billion to be paid in the third quarter. The company remains optimistic about its performance in the upcoming months.

https://internasional.kontan.co.id/news/laba-raksasa-minyak-saudi-aramco-turun-us-56-miliar