Sony on Tuesday reported a 7% drop in annual profits in the fiscal year 2023, logging its first drop in annual profits since 2020.
Sony's annual 2023 operating profit for the full year came in at 1.2 trillion, down 7% year-over-year — marking the first decline in annual operating profit for the company since its full year ending March 2020.
The company also narrowly missed its forecast for unit sales of its flagship PlayStation 5 gaming console for the full year.Revenue: 3.5 trillion yen versus 2.89 trillion yen expected. That represents a 14% increase year-over-year — but the first drop since Sony's 2020 September quarter, according to LSEG data.
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