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The maker of the PlayStation game console expects operating profit in the year to March 31 to fall 3.2% to 1.17 trillion yen ($8.65 billion), lower than an analysts’ average estimate of a 1.275 trillion yen profit, according to Refinitiv data.
The improved performance at its gaming unit, however, is good news for the Japanese company after it struggled to make enough PlayStation 5 game consoles during the COVID-19 pandemic because of semiconductor supply chain disruptions.
Sony (NYSE:SONY), which competes with Xbox maker Microsoft Corp (NASDAQ:MSFT) and Switch (NYSE:SWCH) provider Nintendo Co Ltd (TYO:7974), sold 19.1 million units of the PlayStation 5 (PS5) videogame machine last business year, up from 11.5 million a year earlier.
For this business year, the Japanese electronics and entertainment conglomerate said it expects profits at its gaming and network unit to rise by 8% to 270 billion yen. It forecast earnings growth at its music and pictures divisions to largely remain flat, with profits from financial services falling by a fifth.
Sony said its overall operating profit fell 7.3% to 128.5 billion yen for the three months that ended March 31. For the full year, its profit was 1.21 trillion yen, its highest annual profit ever.
($1 = 135.2600 yen)
