According to a report by CNBC, SONY’s market value fell by ten billion last week.
Last week, Sony reported its financial results for the third quarter (October to December 2023).
In the report, the company revised its previous forecast for the gaming division of 25 million PlayStation 5 consoles shipped by the end of March by four million.
After the new forecast was announced, the shares fell by 8.4% last week and closed with a loss of 6.5%. The lower than expected operating margin of 6% in the gaming division is also cited as the reason for the market value of SONY shares falling by ten billion dollars.
Atul Goyal, analyst at Jefferies Equity, said via CNBCThe operating margin is therefore “extremely disappointing” because it was 12-13% for four years. With the current 6% we have reached “almost the lowest level of the decade”.
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