The value of Sony's stock fell dramatically
The value of Sony shares has decreased by 10 billion dollars after the recent financial report of this company.
Sony talked about PlayStation's performance in the third quarter of fiscal year 2023 in its latest financial report session. The company announced that it sold 2.8 million PlayStation consoles this season and sold more than 89 million copies of PlayStation 5 and PlayStation 4 games. However, these surprising figures make news such as the decrease in PS5 console sales forecast in the final quarter of this fiscal year less visible.
Sony initially planned to sell 25 million PlayStation 5 units by the end of fiscal year 2023, but this forecast was recently reduced to 21 million units. Regardless of this case, the company's operating profit margin was also under the microscope and all these issues led to a staggering $10 billion drop in Sony's stock value.
In a recent CNBC media report, the state of PlayStation was discussed by a capital analyst named Atul Goyal . Analyzing the situation, Goyal emphasized that the situation is very disappointing and addressed Sony's weak operating profit margin in the gaming sector. Explaining the significance of this, Goyal said, “It's not the sales forecast reduction for PlayStation 5 that's disappointing; What is disappointing is the low level of operating profit margins. Their revenue from digital sales, additional content and digital downloads is at an all-time high, but the company's profit margins are at their lowest level in a decade. This is not pleasant at all."
According to the CNBC media report, the profit margin of Sony games is almost at the lowest level in the last decade. Increasingly high production costs seem to be one of the factors in shrinking margins, something that Kantan Games' Serkan Toto also raised some time ago.
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