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Sony expects profit to slip despite record PlayStation 5 sales
According to Reuters News:
Sony Group Corp (6758.T) on Friday said PlayStation 5 sales will jump by six million units this business year, but forecast its profit will slip from a record high as weaker financial services sales offset gains from gaming, music and movies.
The Japanese company said it expects operating profit in the year to March 31 to fall 3.2% to 1.17 trillion yen ($8.65 billion), lower than an analysts' average estimate of a 1.275 trillion yen profit, according to Refinitiv data.
The improved performance of its gaming unit, however, will come as a relief to the entertainment and electronics conglomerate after it struggled to make enough PlayStation 5 game consoles to meet demand during the COVID-19 pandemic because of semiconductor supply chain disruptions.
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