PlayStation DualSense controller and PlayStation 5 console are seen on this illustration photo taken in Krakow, Poland on April 9, 2022.
Jakub Porzycki | Nurphoto | Getty Images
Sony on Wednesday reported a 31% fall in profit in the primary fiscal quarter as its life insurance unit dragged on its bottom line — but solid performance in the corporate’s games business drove a 33% bump in revenues.
Here’s how Sony did within the June quarter versus Refinitiv consensus estimates:
- Revenue: 3 trillion Japanese yen ($20.7 billion) versus 2.46 trillion yen expected. That represents a 33% year-on-year rise.
- Operating profit:Â 253 billion Japanese yen versus 251.24 billion yen expected. That marks a 31% year-on-year fall.
Sony is anticipating a bumper 12 months for its PlayStation gaming business. The corporate previously said it expects to sell a record 25 million PlayStation 5 units in the present financial 12 months, which ends on March 2024 — compared with 19.1 million units within the previous 12 months.
Sony sold 3.3 million units of the PlayStation 5 in its April-June quarter, up 38% year-over-year. The numbers are softer compared with the December quarter, when consumer electronics are likely to do well due to the vacation shopping period.
Sony flagged a deterioration in profitability with its latest console, which it attributed to “changes in promotions by geographic region and the sales channel mix.”
It is a breaking news story and it’s being updated.
