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Sony makes a killing

by on28 April 2023

Results better than expected 

Sony previously forecast an operating profit of US $8.8 billion and $85.7 billion in revenue. The company beat its forecast with US $9 billion in operating profit -- a company record.

Sony forecast its sales for the current fiscal year, which ends in March 2024 was roughly flat versus last year. It and its operating profit would be down three per cent year-on-year.

Sony said it sold 19.1 million PlayStation 5 consoles in the financial year, beating its forecast of 18 million. That was up from 11.5 million PS5 units sold in the previous fiscal year when Sony faced supply chain issues.

The Japanese giant’s gaming division was one of its biggest profit drivers for the year although that was down 27 per cent year-on-year.

Sony’s gaming division revenue was up 33 per cent year-on-year for the fiscal year. The business was Sony’s biggest category by sales.

Sony forecast operating profit for its gaming business to be US $2 billion for the current fiscal year. The company hopes PlayStation VR 2, the virtual reality gaming headset, will help add to sales. The company said it will see an improvement in profitability from hardware next year.

Sony said it aims to sell 25 million PS5 units in the current financial year. If achieved, this would be a record for the PS5.

Sony sells image sensor chips that go into smartphones and other camera products. Its image sensor business saw profits jump 36 per cent year-on-year. However, the company expects operating profit for the division to fall 5.7 per cent in the current fiscal year, citing a slump in demand for its image sensors, particularly from Chinese smartphone makers.


Last modified on 28 April 2023
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