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Sony Slides After Warning of 30% Profit Drop in Fiscal Year

  • Company didn’t give full forecast due to virus uncertainty
  • PlayStation 5 production still on track for year-end release
A Sony Corp. Alpha 9 mirrorless digital camera.

A Sony Corp. Alpha 9 mirrorless digital camera.

Photographer: Kiyoshi Ota/Bloomberg
Updated on

Sony Corp. warned operating profit could fall 30% or more in the current fiscal year as the coronavirus hampers production of devices like smartphones and saps consumer demand for digital cameras and other electronics.

The company sounded the note of caution as it reported operating profit of 35.45 billion yen ($331 million) for the quarter ended in March, down 57% from the same period a year earlier. Revenue also fell, to 1.75 trillion yen. Sony declined to provide a specific forecast for the current fiscal year for the first time since 2016 when the Kumamoto earthquake disrupted its operations.