All data are based on the daily closing price as of October 14, 2024

Sony Reports Q1 Profit Dip Due to Gaming Acquisition Costs

Japan
Share this on

Sony Group’s Q1 net profit stands at 217 billion yen ($1.52 billion), down 16.7% YoY, attributed to the acquisition of U.S. gaming firm Bungie. A third of the acquisition cost is set for employee retention expenses, impacting the April-June period. The group has acquired nine overseas game studios, leading to increased costs for game development talent. The profit forecast for FY2024 is 860 billion yen, down 14.5% from last year, but an improvement from April estimates. Sony sold 3.3 million PlayStation 5 units, falling short of the annual target of 25 million.

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top