Sony Casts Doubt on PlayStation Momentum With Cagey Outlook
- Focus now on PlayStation 5 hardware and how it sustains sales
- Sony president cautions on consumer electronics demand
A Sony PlayStation 5 at a store in Sydney, Australia.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Sony Group Corp. offered a conservative profit outlook for the current fiscal year, warning about the impact of the global consumer spending slump on its electronics and entertainment businesses.
The Tokyo-based firm said it expects operating income of ¥1.17 trillion ($8.7 billion) in the year ending March 2024, below average analyst estimates of ¥1.27 trillion. This was largely down to its PlayStation division, where Sony’s guidance fell short of consensus and the company said it expects fewer sales of PlayStation Studios games this fiscal year.