A fall in its financial services segment was the main cause of Sony’s 7% annual profit loss in the fiscal year 2023, which the company said on Tuesday. The corporation also only missed its goal for the entire year’s unit sales of its flagship PlayStation 5 game console.
In comparison to LSEG consensus estimates, Sony performed as follows in the March quarter: Revenue exceeded expectations by 2.89 trillion yen ($22.4 billion) to 3.5 trillion yen.
LSEG data shows that while that is a 14% year-over-year growth, it is the first decline since Sony’s September 2020 quarter. Compared to the predicted 236.81 billion yen, the operating profit was 229.4 billion yen.
The increase from the previous year is 57%. The massive Japanese game company revealed sales of 13 trillion for 2023, a 19% rise from the previous year.
Source (CNBC)
