Sony’s quarterly profit fell by a third – Kommersant
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Today the Japanese corporation Sony reported, that according to the results of the second quarter of its 2023 financial year, which ended in September, net profit amounted to 200 billion yen ($1.33 billion), which is 29% less than a year earlier. Total revenue reached 2.8 trillion yen ($18.5 billion), up 8% year-on-year. Analysts surveyed by LSEG (formerly Refinitiv) expected from the company slightly larger revenue – 2.87 trillion.
The company attributed the decline in profit to weaker demand for graphics chips and sensors, which saw a 27.6% decline in profits in that segment, and the negative impact of the Hollywood strike on its entertainment operations, which saw profits in that division fall by 16.8%. At the same time, the profit of the company’s other operations grew quite modestly: in the gaming segment – by 6.8%, in the music segment – by 2.3%.
After the publication of the report, Sony shares fell 2.5%.
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