“sony raises forecast on PlayStation gaming growth but profit drops 31% in first quarter”
August 9, 2023
“Sony on Wednesday reported a 31% fall in profit in the first fiscal quarter as its life insurance unit dragged on its bottom line, but the company raised full-year sales forecasts on the back of expected strength for its PlayStation gaming business…
Sony said its operating income suffered from significant decreases in profit from its financial services and movies and pictures businesses. Profits from Sony’s financial services branch plunged by 61% in the fiscal first quarter… Sony reported a 6% decrease in revenue and a 68% slump in profit at its pictures division…
Sony sold 3.3 million units of the PlayStation 5 in its April-June quarter, up 38% year-over-year… Sony is so far winning the latest round of the console wars — by a substantial margin. Microsoft’s Xbox Series X, which has been out since November 2020 along with the PS5, has sold far fewer units than Sony’s new PlayStation overall…”
https://www.cnbc.com/2023/08/09/sony-earnings-report-q1-2023.html