Sony Expects Profits To Slip Following Pandemic Boom

Sony Corporation recently announced it expects profits to drop by 4.3% during the 2021 business year. This comes after a record year for the company during the COVID-19 Pandemic.

“We expect software sales in quarter ending June 30 to be below the same period of last fiscal year when lockdowns were widespread,” Chief Financial Officer Hiroki Totoki said during a news conference. “We don’t see the significant increase in subscribers for network services like we saw last fiscal year from stay-at-home demand.”

Sony’s business year began on April 1st. The company expects to record $8.5 billion in profits this year. This will be short of the $8.95 billion average calculated by 19 financial analysts.

(All information was provided by Reuters)

0 comments on “Sony Expects Profits To Slip Following Pandemic Boom

Leave a Reply

%d bloggers like this: