The PlayStation DualSense controller and the PlayStation 5 console.
Jakub Porzycki | Photo only | Getty Images
Sony on Tuesday reported a 7% drop in annual profit in fiscal 2023 as a result of weakness in its gaming division.
The company also narrowly missed its full-year forecast for sales of its flagship PlayStation 5 gaming console.
Here’s how Sony performed within the March quarter in comparison with LSEG’s consensus estimates:
- Sales: 3.5 trillion yen ($22.4 billion) vs. 2.89 trillion yen expected. That represents a 14% increase year-on-year – but the primary decline since Sony’s September 2020 quarter, in accordance with LSEG data.
- Operating profit: 229.4 billion yen versus 236.81 billion yen expected. This represents a rise of 57% in comparison with the previous 12 months.
The Japanese gaming giant reported 13 trillion in revenue for 2023, up 19% from the previous 12 months.
However, Sony’s full-year operating profit was 1.2 trillion, down 7% year-on-year.
Sony narrowly missed its revised downward goal for PlayStation 5 sales. The company said sales of its flagship console totaled 20.8 million in fiscal 2023.
That’s barely lower than the revised goal of 21 million units that Sony told investors in February. The company had previously forecast that its PS5 console would sell 25 million units for the complete 12 months.
This breaking news story will probably be updated.
