Sony Sees Biggest Drop Since 2015 on Weaker PlayStation Business
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Sony Corp. reported weaker profits in the PlayStation business and cut its annual revenue forecast, triggering the steepest share decline in almost three and a half years.
The stock fell 8.1 percent in Tokyo on Monday, the most since September 2015, after operating income in games fell 14 percent to 73 billion yen ($666 million) for the holiday quarter. The Tokyo-based company sold 8.1 million PS4 consoles, down from 9 million a year ago, it said in a statement Friday.