Sony Group First-Quarter Results: What to Expect
Sony Group is set to announce its first-quarter results on Wednesday. Here's a breakdown of the key details:
Net Profit Forecast
Analysts predict that Sony Group will experience an 18% decrease in net profit, amounting to 179.74 billion yen ($1.27 billion) for the quarter ending in June. This is in comparison to the 218.20 billion yen recorded in the same period last year.
Revenue Forecast
Estimates indicate that first-quarter revenue will have risen by 7.8% to reach 2.493 trillion yen.
Areas of Focus
1. Gaming
Sony's game business has projected an 8.0% increase in operating profit, amounting to 270.0 billion yen for the fiscal year ending in March 2024. After a slump in the previous fiscal year due to higher software development and other expenses, investors will be observing for signs of profit recovery in this critical segment.
2. Financial Unit
Investors are keen on understanding Sony's plans for its financial unit, particularly after the company announced its consideration of spinning off and listing its insurance and online-banking business in May.
3. Guidance
Sony has already projected a slight decline in overall revenue by 0.3% to 11.500 trillion yen and a 10% decrease in net profit to 840.00 billion yen for this fiscal year. Investors will be closely monitoring any updates or changes made to the company's annual earnings forecasts.
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