Sony forecasts 13% profit rise and launches ¥500 billion share buyback
Updated
Updated · CNBC · May 8
Sony forecasts 13% profit rise and launches ¥500 billion share buyback
14 articles · Updated · CNBC · May 8
For the year to March 2027, it sees net profit at ¥1.16 trillion, while fourth-quarter revenue beat estimates at ¥3.036 trillion but operating profit missed at ¥164 billion.
Strong image sensor and music sales helped offset weaker PS5 demand and higher memory costs, which Sony expects to limit to about ¥30 billion in the new fiscal year.
PS5 quarterly sales fell to 1.5 million units from 2.8 million, while quarterly results were also hit by losses on the scrapped Honda EV venture and Bungie-related impairments.
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