How is sony doing financially

Breaking down the past year performance of the pictures division, Sony said that revenues had suffered due to theater closures and a lower volume of TV program sales, both due to the impact of COVID Home entertainment and catalog titles gained for the same reasons. The games division was lifted by the launch of the PlayStation5 console and add-on software. Software and network services boosted operating income, but Sony said that it incurred losses as PS5 hardware was priced lower than manufacturing costs.

It also pointed to shortages of semiconductors as negatively affecting the segment, but said that demand continues to exceed supply. Its guidance for the new financial year points to the games division further increasing sales, but for operating income to retreat as games development costs increase. In supplementary documents, Sony revealed that it made sales of 5. That total of Additionally, it said that PlayStation Plus network subscribers had increased from A year ago, as the impact of the coronavirus was only beginning to be felt, Sony said that it had strong financial reserves and was in a position to be acquisitive.

It took a minority stake in Chinese video entertainment player Bilibili, and in July took a stake in Epic Games. Sony said earlier this month i. In December , Sony Pictures announced the purchase of anime streamer Crunchyroll , a move that might bolster its position in the Japanese cartoon format against aggressive rival Netflix.

Cost basis and return based on previous market day close. Investing Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started. Planning for Retirement. Retired: What Now? Personal Finance. Credit Cards. About Us. Who Is the Motley Fool? Fool Podcasts. New Ventures. Search Search:. Gaming firms' earnings were flattered last year by stay-at-home demand during the depths of the COVID pandemic. Since then, sliding PlayStation user numbers have stabilised, Totoki said, as the company approaches the year-end shopping season.

TW in its plans to build a chip plant in Japan without confirming further details, amid a corporate scramble to secure long-term stable semiconductor supply. Sony reported group profit of The conglomerate - spanning areas such as entertainment, sensors and financial services - switched to IFRS accounting standards from U.