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Sony faces profit drop due to $70 games



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 2 days ago '04        #1
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Da Ill One  topics gone triple plat - Number 1 spot x2
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Sony faces profit drop due to $70 games
 

 
6TOKYO -- Sony expects slower sales growth this year after unprecedented demand for games and other home entertainment amid the COVID-19 crisis propelled the company to new heights in 2020.

The Japanese conglomerate announced on Wednesday an expected 8% rise in revenue to 9.7 trillion yen ($89 billion) for the year ending March 2022, with operating profit dropping 4% to 930 billion yen.

Sony's outlook falls short of analysts' expectations as of Monday, which saw 965 billion yen in annual operating profit, according to a Quick consensus survey.


The outlook for the current fiscal year pales in comparison to Sony's record-breaking year through March, in which it posted a 15% jump in operating profit to 971 billion yen -- the highest-ever for the company -- while revenue rose 9% to 9 trillion yen.

Net profit increased 101% to 1.1 trillion yen, also a new record, thanks in part to tax benefits. For the current fiscal year, Sony forecasts net profit to decline 44% to 660 billion yen.

The company's breadwinner gaming business enjoyed a massive boost from pandemic-fueled demand last year, especially during the initial phases of the coronavirus outbreak as subscription-based services saw a surge in users.

Sony expects to maintain its current subscriber base this year and plans to increase sales of its next-generation gaming console, PlayStation 5. The company has so far sold 7.8 million units since its launch in November and aims to sell over 14.8 million units in fiscal 2021.

However, the electronics-to-entertainment giant predicts software sales will decline compared with last year's record growth, as more people emerge from COVID-imposed hibernation. An increase in costs related to game software development will also weigh on profits.

The company expects a 5% drop in annual operating profit to 325 billion yen in its gaming business.

Other factors that will put downward pressure on Sony's profit include a rise in research and development cost related to its image sensor business, as well as a decline in sales related to the smash-hit anime movie "Demon Slayer," which lifted profit last year.

"We anticipate continued constraints in chip supplies," said Chief Financial Officer Hiroki Totoki at a news conference, adding that Sony has not been able to "keep up with the strong demand for PS5 hardware," but promised to do its best in procuring parts to increase sales.


For its image sensor business, Sony expects sales to increase as shipments to customers, including China's Huawei Technologies, pick up again. The company's initiatives to diversify and expand its client base will also support sales growth.

Totoki said the company has enough capacity to cover this year's image sensor production but acknowledged concerns over a prolonged global chip crunch.

The Japanese electronics-to-entertainment giant is using IFRS accounting standards from this fiscal year, which started on April 1. Hence, year-on-year comparisons may not be exact.

Sony also announced on Wednesday a stock buyback of up to 200 billion yen. In a statement, Sony said the buyback will enable the company to "flexibly repurchase its own shares in consideration of factors such as opportunities for strategic investment, Sony's financial condition and the price of its common stock as part of improving capital efficiency and implementing capital policy according to the business environment."

The company showed a glimpse of its midterm business plan by announcing a financial target of 4.3 trillion yen in cumulative adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the next three years.

Sony plans to reveal further details on its mid-term business goals at its corporate strategy meeting scheduled next month.

visit this link https://asia.nikkei.com/B .. -breaking-year
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210 comments
 

 2 days ago '05        #2
Krazie 
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+1   

 2 days ago '04        #3
Da Ill One  topics gone triple plat - Number 1 spot x2 OP
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 Krazie said



;shhh; your going to p*ss off all the Sony shareholders on BX... I wonder where this giloalpost will move too
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 2 days ago '18        #4
Juliette DaBlok  topics gone triple plat - Number 1 spot x4
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Looks like I must've missed a domestic dispute

 2 days ago '12        #5
BrooklynSwag 
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Damn, what a sh*t company. They need a gamepass competitor pronto
+7   

 2 days ago '16        #6
Quinn 
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if they would just buff PSNOW they might have a better chance against MS cloud offerings
+7   

 2 days ago '17        #7
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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It says it dropped because COVID restrictions are lifting. If anything the price increase helped the losses not be so much
+2   

 2 days ago '17        #8
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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 Quinn said
if they would just buff PSNOW they might have a better chance against MS cloud offerings
They’re not competing against cloud gaming tho lol.
+2   

 2 days ago '17        #9
Naga Sadow  topics gone triple plat - Number 1 spot x20
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 Juliette DaBlok said
Looks like I must've missed a domestic dispute
The same fanboys would say otherwise. They think stanning magically grows money for Sony.

 2 days ago '18        #10
Juliette DaBlok  topics gone triple plat - Number 1 spot x4
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 Naga Sadow said
The same fanboys would say otherwise. They think stanning magically grows money for Sony.
A few weeks back they were all buddy buddy now they are having a lovers quarrel

Ya hate to see it
+1   

 2 days ago '17        #11
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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This thread is so sad.

Here guys: IM SO ANGRY AHHHHHHHHHHHHHHHHHHHHHHHH
+4   

 2 days ago '20        #12
Keep God First 
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The same 4 non melanin 40+ Xbox users are ruining this gaming section with their antics

What a shame

+3   

 2 days ago '16        #13
Novii  topics gone triple plat - Number 1 spot x1
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 Juliette DaBlok said
Looks like I must've missed a domestic dispute
Come over here,
I’ll tell you what you’ve missed.














































+3   

 2 days ago '04        #14
Da Ill One  topics gone triple plat - Number 1 spot x2 OP
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People can't even post PROOF of Sony losing money.. got dman Sony got that magical duck in your guts huh
+1   

 2 days ago '12        #15
Pleasure Boy  topics gone triple plat - Number 1 spot x7
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$70 games wasn't mentioned once in this article... But this is the same sensitive mf that cry about thread titles
+6   

 2 days ago '17        #16
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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 Da Ill One said
People can't even post PROOF of Sony losing money.. got dman Sony got that magical duck in your guts huh
Absolutely nobody is angry at you for posting this.

Its expected to not match record numbers. The fact they only dropped 4% despite game costs going up and investing more into the R&D in VR is actually pretty astonishing imo. And thats operating profit, after taxes, they actually made money
+1   

 2 days ago '04        #17
Da Ill One  topics gone triple plat - Number 1 spot x2 OP
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 Pleasure Boy said
$70 games wasn't mentioned once in this article... But this is the same sensitive mf that cry about thread titles
I did the thread title on purpose. I was following after you
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 2 days ago '12        #18
Pleasure Boy  topics gone triple plat - Number 1 spot x7
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 Da Ill One said
I did the thread title on purpose. I was following after you
What was fake about my Title? Please explain

 2 days ago '18        #19
Juliette DaBlok  topics gone triple plat - Number 1 spot x4
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 Novii said
Come over here,
I’ll tell you what you’ve missed.












































Settle down now son. Last time you tried some sh*t like that you ended up washing drawls in a toilet bowl. That gangsta sh*t obviously ain't for you

 2 days ago '06        #20
Skateboard T  topics gone triple plat - Number 1 spot x6
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Anybody who cares about this and who isn't holding Sony stock is a fu*kin weirdo
+6   

 2 days ago '17        #21
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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 Pleasure Boy said
What was fake about my Title? Please explain
Big crickets

 2 days ago '16        #22
Novii  topics gone triple plat - Number 1 spot x1
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 Juliette DaBlok said
Settle down now son. Last time you tried some sh*t like that you ended up washing drawls in a toilet bowl. That gangsta sh*t obviously ain't for you
Toilet bowl? What?

Lemme get this straight:
So I tried some sh*t, and ended up getting locked up anyway? Was I successful or not?

What they call that charge fam?


+1   

 2 days ago '17        #23
SPdaGOAT  topics gone triple plat - Number 1 spot x4
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 Novii said
Toilet bowl? What?

Lemme get this straight:
So I tried some sh*t, and ended up getting locked up anyway? Was I successful or not?

What they call that charge fam?


Juliette making up sh*t again lmfao this n*gga has a real problem
-1   

 2 days ago '12        #24
TrillSwag  topics gone triple plat - Number 1 spot x1
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Only GOW,LOU,HZD type games should cost 70.
Everything else should be in that 40-60 range realistically.

 2 days ago '18        #25
Juliette DaBlok  topics gone triple plat - Number 1 spot x4
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 Novii said
Toilet bowl? What?

Lemme get this straight:
So I tried some sh*t, and ended up getting locked up anyway? Was I successful or not?

What they call that charge fam?


Touched a nerve huh



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