PlayStation DualSense controller and PlayStation 5 console.
Jakub Bolzycki | Noor Photos | Getty Images
sony It reported on Tuesday that annual profit fell 7% in fiscal 2023 due to weakness in its gaming unit.
The company also slightly missed its forecast for full-year sales of its flagship PlayStation 5 console.
Here’s how Sony’s performance in the March quarter compared to LSE consensus estimates:
- Revenue: 3.5 trillion yen ($22.4 billion), compared with 2.89 trillion yen expected. That represents a 14% year-over-year increase, but it’s the first decline since Sony’s September 2020 quarter, according to LSEG.
- Operating profit: 229.4 billion yen, expected 236.81 billion yen. This marks a year-over-year increase of 57%.
The Japanese gaming giant announced revenue of $13 trillion in 2023, an annual increase of 19%.
However, Sony’s full-year operating profit was 1.2 trillion yen, a year-on-year decrease of 7%.
Sony narrowly missed its target for lowering PlayStation 5 sales. The company said sales of its flagship consoles totaled 20.8 million units in fiscal 2023.
That’s slightly lower than the revised 21 million unit target Sony provided to investors in February. Previously, the company had predicted that full-year sales of its PS5 console would reach 25 million units.
This breaking news story is being updated.
About The Author
