Sony Group's third-quarter earnings report shows operating income of 463.34 billion yen, falling short of estimates. PlayStation 5 sales reached 8.2 million units, below expectations. The company plans to list Sony Financial Business in October 2025. Sony Pictures' profits surged 57% to $281 million in the same quarter. The group raised its net profit forecast for FY 2023 to 920 billion yen from 880 billion yen. Sony Music revenues increased by 16% due to streaming and artists like SZA. Sony's chairman and president, Hiroki Totoki, emphasized the need for improvement in PlayStation's studios regarding business understanding and cost-cutting strategies. The company aims to focus on bringing first-party games to PC to enhance profit margins.
Sony’s Profit Rises on Growing Sales of Music, Games, Pictures, Sensors https://t.co/TpHBLrxfj0
Sony shares recorded their biggest intraday fall in two years after the company said that PS5 sales growth has likely peaked. https://t.co/w5NRd1NwzW https://t.co/NU9J4thnOB
"Every screen is an Xbox" Microsoft reportedly tells staff https://t.co/DcC4H8ZLJl https://t.co/xVkeLosjkp
Expect more PlayStation games on PC as Sony reveals its plans "aggrssive" work on multiplatform releases https://t.co/q5nvlrTSv2
Microsoft reportedly told employees that it views “every screen [as] an Xbox” ahead of a much-anticipated business update today. https://t.co/u1xhbLitRw https://t.co/5hNZPZfxD0
PlayStation boss says first-party PC releases will be part of "aggressive" profit margin growth plan https://t.co/3LpA5xtW1z https://t.co/4IGLba2I8I
Sony's exec Hiroki Totoki thinks that PlayStation's division has lots of hard-working devs, but they don't have a "deep understanding" of how to increase margin or reach "overall growth", and that's the problem. Details: https://t.co/isdgQgdK2i #games #videogames #gameindustry https://t.co/JZqP9NWlL7
Xbox executives seemingly confirmed Call of Duty for October 2024 and reaffirmed Xbox's multi-device strategy with promises of "Xbox on every screen" during a recent town hall. https://t.co/DRkUUQjlLZ https://t.co/2FvNOWPPHF
PlayStation boss says first-party PC releases will be part of "aggressive" growth plan https://t.co/3LpA5xtW1z https://t.co/XtNyKP4fZd
Would PlayStation benefit from having Xbox's first-party titles? https://t.co/9ZbCcvUsUk
Sony interested in pursuing more multiplatform PlayStation releases https://t.co/ul25I2iVW4 https://t.co/Rh5c0WwYug
PS5 hardware sales hit quarterly high, but that isn't good enough for Sony https://t.co/NzKSfn22NL https://t.co/ZLpTcw2n9Y
Ahead of Xbox briefing, Microsoft lead reportedly told staff "every screen is an Xbox" and stressed ambitions to be the number one cross-platform gaming company https://t.co/6wkJxO4CyY
Sony wants its PlayStation exclusives to come to PC earlier https://t.co/qaTUFIHvFl https://t.co/G7oOCCyvp5
Sony Boss Says PlayStation Has ‘Room for Improvement’ When It Comes to Cutting Development Costs https://t.co/vn2Fnp5uFg https://t.co/FgAkPKqVeq
Sony generated $2.52bn from recorded music and publishing in calendar Q4 2023, up 14% YoY (@musicbizworld) https://t.co/eVP7isXU26
Sony Says Big PS5 Price Cut Would Be 'Very Difficult' https://t.co/PfR4pwUMyZ https://t.co/QvndpkkflB
PlayStation chairman says company needs more "aggressive" PC approach https://t.co/Twt2zeaHdS https://t.co/IVbCS9xPbT
here's Sony President Hiroki Totoki discussing the opportunity to grow PlayStation games on PC / multiplatform "In the past, we wanted to popularize console... but there is a synergy to it. So if you have strong first-party content, not only with our console but also other… https://t.co/FblyzQNL8D
Sony has said a big PlayStation 5 price cut would be "very difficult." https://t.co/CmCb8Q1fTM https://t.co/tzL3ysWRWJ
Sony says a greater focus on bringing first-party games to PC can help it improve PlayStation’s profit margins. https://t.co/Kob4J81uBG https://t.co/ImxW5mDBZP
Sony Pictures profits surged 56% in Q3, largely thanks to licensing, home entertainment and the continued success of Crunchyroll. Sony's licensing deal w/ Netflix has seen "No Hard Feelings," "Gran Turismo" and "Dumb Money" dominate its Top 10. https://t.co/pM8KHvvjoy
Sony Boss Hiroki Totoki says PlayStation has "room for improvement" when cutting development costs. https://t.co/7j15ueN3hI https://t.co/GPz3YrGyz1
Sony Group on Wednesday lifted its net profit forecast for the year ending March to ¥920 billion from an earlier estimate of ¥880 billion. https://t.co/LqPwBG7pnc
Sony President Hiroki Totoki says he wants to go aggressive in improving margins by growing 1st party with multi-platform This means more day one on PC https://t.co/SuelmCH378
Sony chairman says PlayStation's studios are full of "great creative minds" but need to understand business better https://t.co/q79j8Dc1QZ
PlayStation generated $9.3 billion for Sony in the holiday quarter, but platform holder expects hardware decline in 2024 with no major franchise launches until April 2025 https://t.co/1metDpT1tp
Sony president Hiroki Totoki has shared his "frank impressions" from his first four months as acting PlayStation chairman, stating that its studios need to improve "when it comes to business." https://t.co/Bf14c26b9p https://t.co/HTIZWMcT5s
Sony Music Revenues Jump 16% Thanks to SZA & Streaming https://t.co/qr0oF9yB6x
Sony Pictures Sees Third Quarter Profits Hit $281M, Total Revenues Dip https://t.co/J6kojybQ30
Sony Group lifts FY 2023 net profit forecast to 920 bil. yen https://t.co/gnET759XUX
Sony Pictures Entertainment Third-Quarter Profits Jump 57% To $281M https://t.co/pVbCMHGvbu
Sony Group Reports Profit Rise, Starts Preparing For Financial Unit’s Spinoff - WSJ https://t.co/hQihbBE68O
Sony Pictures Profits Climb 56% to $281 Million, Lifting Group Income in Third Quarter https://t.co/qMuOPkmvaf
Sony posts record quarterly revenue, smashing through expectations, on PlayStation bump https://t.co/jD7HWiKNIh
Sony Q3 Earnings: - Oper Income 463.34B Yen (est 434.64B Yen) - PS5 Sales 8.2M Units (est 9.13M) - Sees FY Oper Income 1.18T Yen, Saw 1.17T Yen - Sees FY Net 920.00B Yen, Saw 880.00B Yen (est 889.82B Yen) - Plans To List Sony Financial Business In Oct. 2025