Sony Group Corp. lowered its forecast for annual operating profits by 4% to 1.11 trillion. yen ($8.37 billion) as it revised down its estimates for the games industry, Reuters reports.
In particular, the Japanese giant revised down its profit forecast in the games unit by 16%, citing an expected decline in sales from external partners, while at the same time recording additional costs from closing the deal to acquire Bungie.
Sony also reported a 9.6% rise in first-quarter operating profit, beating analysts’ estimates. Operating profits for the April-June quarter amounted to 307 billion yen. versus analysts’ estimate of 289 billion yen in a Refinitiv poll.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
