Sony posts record annual profit boosted by chips and all-time high PlayStation 5 sales

Sony posted document annual working income on Friday, helped by its chip division and gross sales of its flagship PlayStation 5 gaming console which hit a document for the monetary yr.

Here’s how Sony did within the March quarter versus Refinitiv consensus estimates:

• Revenue: 3.06 trillion Japanese yen ($22.7 billion) versus 2.92 trillion yen anticipated. That represents a 35% year-on-year rise.
• Operating revenue: 128.5 billion Japanese yen versus 124.34 billion yen anticipated. That represents a 7% year-on-year fall.

For its full fiscal yr which resulted in March, Sony beforehand forecast working revenue of 1.18 trillion yen and 11.5 trillion yen in income. The firm beat its personal forecast with 1.21 trillion yen in working revenue, a document for the corporate.

Sony forecast its gross sales for the present fiscal yr, which ends in March 2024, will probably be 11.5 trillion yen, roughly flat versus final yr. It mentioned working revenue would are available in at 1.17 trillion yen, down 3% year-on-year.

Sony mentioned it offered 19.1 million PlayStation 5 consoles within the monetary yr, beating its personal forecast of 18 million. That was up from 11.5 million PS5 models offered within the earlier fiscal yr when Sony was dealing with provide chain points.

The Japanese large’s gaming division was considered one of its greatest revenue drivers for the yr, bringing in working revenue of 250 billion yen, though that was down 27% year-on-year.

For the fiscal yr, Sony’s gaming division introduced in income of three.64 trillion yen, up 33% year-on-year. The business was Sony’s greatest class by gross sales.

Sony forecast working revenue for its gaming business to be 270 billion yen for the present fiscal yr. The firm is hoping PlayStation VR 2, the corporate’s digital actuality gaming headset, will assist add to gross sales. The firm mentioned it would see an enchancment in profitability from {hardware} subsequent yr.

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