Sony's Profit Drops 7% as PlayStation 5 Sales Fall Short, Weaker Sales Expected in 2025 from ls studio Watch Video

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✓ Published: 15-May-2024

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Sony's annual operating profit for fiscal 2023 fell 7%, dragged down by a decline in its financial services division. However, revenue increased 19% year over year. PlayStation 5 sales narrowly missed Sony's revised down target, and The Japanese gaming giant expects weaker PS5 sales in fiscal 2025. Sony restructured its gaming division, appointing new CEOs for platform and studio businesses. Sony is forecasting a 5% decline in group revenue for fiscal 2024.