Following the results at the end of the financial year, Sony announced his intention buy back some of their shares after that missed financial targets Estimates shared by analysts were announced by the repurchase of approximately 200 billion yen ($1.5 billion) of shares in the company.
As reported by Takashi Mochizuki on Bloomberg, Sony plans to repurchase its shares in the market after financial results did not match forecasts. As we can see, PS5 sales fell short of the target and operating profit of 138.6 billion yen in the fourth fiscal quarter was also well below the expected 148.5 billion yen. Overall operating income was also lower than expected, in agreement with market analysts.
As a result, Sony has announced its buyback plans 25 million shares From his own company in the new fiscal year or from about 2.02% of the total after a similar operation in the past.
Year-round value of Sony shares fell by about 27%, in line with the Nasdaq index and other tech companies overall. The problem is in fact the common problem of the entire industry: the semiconductor crisis, which, according to Sony, has caused great difficulties in the production of the PS5 and thus sales far below the expectations and potential of the console.
“Waiting for Sony” Increasing the production volume of the PS5 Macquarie Capital Securities analyst Damian Thong said this fiscal year is to keep up, albeit at the expense of some pressure on profit margins. The company nevertheless benefited from the excellent results of its film division, largely thanks to Spider-Man: No Way Home in this industry. Greatly increased sales and operating income for
Source: Multiplayer
