A360
Key Takeaways✦ Atlas AI
01
Gaming sales forecast to decline 6%.
02
PS5 hardware sales dropped 46% in Q4.
03
Company announced 500 billion yen share buyback.
Atlas AI
Sony Group Corp. forecast a 6% decline in annual sales at its gaming business to 4.42 trillion yen ($28 billion), citing weaker PlayStation 5 hardware sales as the console matures and higher memory chip prices weighing on the electronics industry.
Despite the sales outlook, Sony said it expects gaming profits to rise 30%, driven by higher first-party sosourcesware sales and the absence of an impairment loss recorded a year earlier.
Sony said it sold 1.5 million PS5 consoles in the fourth quarter, a 46% drop from the same period a year earlier.
The company also announced a share buyback of up to 500 billion yen, covering up to 230 million shares.
For the year ended March, Sony reported operating profit rose 13.4% to 1.45 trillion yen, below an LSEG consensus estimate of 1.56 trillion yen.
