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Sony Dives Most in Months After Gaming Slump Spurs Outlook Cut

  • The tech giant slashed its outlook for annual operating income
  • Recession fears are spooking consumers in range of sectors

Sony Group Corp. fell as much as 7% after the Tokyo-based tech giant trimmed its profit outlook, reflecting the impact of recession fears on the global gaming industry.

The stock slid its most in almost six months in early trading. Sony said on Friday it now expects 1.11 trillion yen ($8.3 billion) in operating profit this fiscal year, down from 1.16 trillion yen previously. The gaming and network services group, which houses the PlayStation business, accounted for the full revision, taking a 16% cut from 305 billion yen to 255 billion yen.