TECH - Sony Disappointed With Its Latest Profit Slump But Provided An Optimistic Guidance | Benzinga
On Wednesday, Sony Group Corporation (NYSE: SONY) reported its July-September quarter results that reflected the troubles the chip business has found itself in, and even Sony who supplies Apple (NASDAQ: AAPL) with its semiconductors for its revived iPhone wasn’t an exception. On Tuesday, Nintendo Co Ltd (OTC: NTDOY) also reported its fiscal second quarter results, delivering better-than-expected top and bottom lines. Meanwhile, Microsoft Corporation (NASDAQ: MSFT) continues to reorganize its Xbox teams following its $69 billion acquisition of Activision Blizzard, the gaming industry’s biggest deal to date, while also announcing the arrival of AI characters to its console.
Sony Disappointed With Its Fiscal Second Quarter Results
For the September quarter, Sony reported revenue grew 8% YoY to 2.8 trillion yen ($18.5 billion) while LSEG survey of analysts expected 2.87 trillion yen. But operating profit slumped 29% due to 263 billion Japanese yen or $1.74 billion, a far cry from LSEG’s estimate of 304.4 billion yen. The drop was attributed to the weakened imaging sensor business, as well as declines in profit generated by financial services ...