Sony's Q2: Gaming And Music Show Growth, PS Sales Outlook Unchanged
Portfolio Pulse from Anusuya Lahiri
Sony Group Corp reported Q2 FY23 sales growth of 8% YoY to $19.58 billion, beating consensus estimates. However, adjusted EPS of $1.12 missed the consensus of $1.16. Revenue from Game & Network Services and Music segments increased by 32% and 14% respectively. The company sold 4.9 million PS5 units in the quarter, up from 3.3 million a year ago. Sony revised its FY23 sales outlook to $87.32 billion from the prior $90.37 billion. The company's shares traded lower by 1.51% at $86.22 premarket.
November 09, 2023 | 12:53 pm
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Sony reported Q2 FY23 sales growth of 8% YoY, beating consensus estimates. However, adjusted EPS missed the consensus. The company revised its FY23 sales outlook downwards. Sony's shares traded lower by 1.51% premarket.
Sony's Q2 sales beat estimates, indicating strong performance. However, the miss on EPS and the downward revision of the FY23 sales outlook could negatively impact investor sentiment, leading to the premarket drop in the share price.
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