Sony projects $19.4 billion revenue for the quarter, beating estimates, as sensor and music segments offset gaming slowdown.
Sony reported fourth-quarter revenue of 3.036 trillion yen ($19.4 billion), surpassing analyst estimates of 2.896 trillion yen. Operating profit, however, fell short at 164 billion yen against expectations of 278 billion yen, pressured by declining PlayStation 5 sales and rising memory costs.
PS5 hardware sales dropped to 110 billion yen in the quarter, down from 183 billion yen a year earlier, with unit sales halving to 1.5 million from 2.8 million. Strong performances in image sensors and music helped mitigate the decline. The company forecasts a 13% rise in net profit to 1.16 trillion yen for the next fiscal year.
Sony announced a 500 billion yen share buyback program over the next year. Shares closed 0.5% lower on May 8, reflecting muted market reaction to the mixed results and ongoing supply chain challenges in memory components.