News Summary

• Sony hiked its full-year earnings forecast on Friday.
• Strong performance at its gaming business helped the Japanese conglomerate deliver a better-than-expected ‌jump of 40% in first-quarter profit.
• The company has been praised for its pivot to entertainment, ‌but the market is concerned about the impact of AI and soaring memory chip costs.
• Sony reiterated on Friday it has secured enough memory chip supply for the current financial year.
• It pointed to impact of u.s. tariff refunds, a boost from exchange rates and cost control for the rosier outlook for its gaming unit.