Sony shares tumbled by almost 5 per cent, as the company said it expects its operating profit for the Japanese financial year to fall.
Sony expects operating profit in the year ending March 31 to fall by 3.2 per cent to A$13 billion.
This is despite a massive uptick in PlayStation 5 console sales, from 19.1 million for the previous year to a record 25 million consoles.
“We can now deliver PlayStation 5 to almost anywhere in the world without keeping our customers waiting,” Sony Group President Hiroki Totoki said, after years of hardware component shortages crippled the early growth of the console.
Elsewhere it wasn’t such good news.
Sony expects earnings at its music and pictures divisions to be flat, profits from financial services will drop by 20 per cent, while its image sensor operating profit will dip by 5.8 per cent.
Overall operating profit for the three months that ended March 31 fell 7.3 per cent to A$1.4 billion.
