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“Sony profit slumps 29% on chip weakness but maintains 25 million unit PlayStation 5 target”

Sony on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its imaging sensor — or chip — business.

Here’s how Sony did in the September quarter versus LSEG consensus estimates:

  • Revenue: 2.8 trillion yen ($18.5 billion) versus 2.87 trillion yen expected. That represents an 8% increase year-over-year.
  • Operating profit: 263 billion Japanese yen versus 304.4 billion yen expected. That marks a 29% drop year-over-year.

Sony attributed the significant drop in profit to weakness in its imaging sensor business, as well as declines in profit at its financial services and entertainment, technology and services businesses…”

https://www.cnbc.com/2023/11/09/sony-earnings-q2-2023-29percent-drop-in-profit-for-japanese-tech-giant.html

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