Net profit forecast slashed to 60 billion Yen.
Sony reported on its Q2 fiscal year 2016 earnings recently and revealed that the PS4 had sold 3.9 million units in this quarter with lifetime sales totaling 47 million units. However, the company projected a net profit of 60 billion Yen/$572 million for the current fiscal year, slashing its previous expectation of 80 billion Yen.
The company also noted that its Game and Networking Services Division saw an 11.3 percent drop in sales and 20.6 drop in operating income year over year during the second quarter (likely due to the recent price drop for the PS4). The division still posted a profit of $188 million off of $3.167 billion revenue.
As for the slashed profit forecast, it was due in part to decreased earnings guidance from the sale of its battery unit to Murata Manufacturing Co. The deal is expected to be done by April 2017.
What are your thoughts on Sony’s struggles, especially with Nintendo also slashing its yearly forecast last week? Let us know below.