Sony Group is set to announce its second-quarter results on Thursday. Here are the key details:
Net Profit Forecast
Analysts predict that Sony Group’s net profit will see a 14% decline, reaching 226.68 billion yen ($1.51 billion) for the three-month period ending on September 30. This compares to Y263.96 billion recorded in the same period last year.
Revenue Forecast
Second-quarter revenue is expected to show a 5.8% increase compared to the previous year, reaching Y2.910 trillion.
What to Watch
Outlook
Sony Group has forecasted an 11% revenue increase to Y12.200 trillion and a 14.5% decrease in net profit to Y860.00 billion for the fiscal year ending in March 2024. Investors will be keen to observe any updates to the annual guidance.
Game Business
First-quarter operating profit for Sony’s game business experienced a 6.8% drop from the prior year to Y49.16 billion. This decline was attributed to higher acquisition-related costs despite increased hardware sales. Notably, Sony sold 3.3 million units of the PlayStation 5 in the first quarter, up from 2.4 million units in the same period last year. Investors will closely monitor the performance of this key segment during the upcoming holiday shopping season.
Mobile Sensors
In August, Sony revised down its operating-profit forecast for the imaging and sensing business to Y180.0 billion from the previously anticipated Y200.0 billion, citing lower sales of image sensors used in mobile phones and other devices. Investors are eager for any signs of recovery in this area. First-quarter operating profit for this segment dropped by 41% to Y12.73 billion.
