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TOKYO -- Sony’s profit for the quarter through December edged up 11% on healthy sales from its film division, including the new Spider-Man movie, the Japanese electronics and entertainment company said Wednesday.Tokyo-based Sony Corp. recorded a 346 billion yen ($3 billion) profit for the fiscal third quarter, up from 310.7 billion yen the previous year.Quarterly sales edged up to 3 trillion yen ($26 billion) from 2.7 trillion yen.Sony said strong offerings in its music division, like the album “30" from Adele; movies like “Spider-Man: No Way Home” and licensing income from the “Seinfeld” series lifted earnings.Its imaging and sensor unit also posted solid results.In video games, sales fell short of expectations as a parts supply crunch, especially of semiconductors, dented sales of its PlayStation 5 machine, Sony said.The company's chief financial officer, Hiroki Totoki, said Sony's acquisition of Bungie Inc., known for its Halo and Destiny games, for $3.6 billion highlighted its commitment to the gaming business.The purchase includes payments to the shareholder creators at the independent studio to ensure their retention, he said.Analysts say the addition complements Sony’s strength in shooting games and will further solidify its position.But competition is heating up in the video game industry.Microsoft Corp.

Sony’s Q1 earnings announcement for 2021, the company highlighted a drop in PlayStation Plus subscribers and active users, but the company says it isn’t worried.Chief financial officer Hiroki Totoki spoke on this, as he talked about the drop off in the company webcast (transcribed by VGC).

Sony has reportedly told analysts that it expects PlayStation 5 console shortages will continue until next year.According to Bloomberg, during an analyst briefing in late April, Chief Financial Officer Hiroki Totoki said he doesn’t think demand for the PlayStation 5 is “calming down this year”.“Even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand,” he said.During the reporting of the financial