Sony Drops After Disappointing PlayStation Sales and Outlook
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Sony Group Corp. fell as much as 8.6% in Tokyo on Thursday after cutting its PlayStation 5 sales forecast and announcing weaker-than-expected results from its gaming division over the holiday period.
The company slashed its fiscal-year outlook by more than 3 million units to 11.5 million PS5 sales and also warned that supply and logistics challenges will persist through 2022. The strong performance of its movie division, led by the latest Spider-Man film, and its image-sensor business driven by Apple Inc.’s bumper iPhone sales helped offset some of the harm, but investors were wary about the long-term prospects of the key gaming group.