Sony: Despite the excellent results, the company plunges into the stock market

Sony: Despite the excellent results, the company plunges into the stock market

Business News Sony: Despite the excellent results, the company plunges into the stock market

At the time of recording record financial results for each manufacturer, Sony was no exception. Video games are still going strong with the manufacturer. However, the future is not entirely rosy.

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  • A little bit of history
  • From top to real fast bot

A little bit of history

This start of the year has been, financially at least, busy. The world of video games has seen notable acquisitions: Industry’s biggest deal ($12 billion) with Take-Two’s acquisition of Zynga, which was quickly overtaken by the massive $68 billion agreement signed between Microsoft and Activision Blizzard. On a smaller scale but still impressive, the recent acquisition of Bungie by Sony. In addition to these acquisitions (which will not be the last in 2022), this start of the year is also synonymous with the publication of financial statements by manufacturers. Electronic Arts, Nintendo, or Sony pass through this mandatory square.

And what interests us is Sony: The Japanese company, which is behind the creation of PlayStation consoles, is struggling to do a better job than it has in previous years. Let’s agree: it’s okay, but the records will be for another time. Many things attest to that. First, PlayStation Plus subscribers: From today’s 48 million, only 700,000 additional subscribers have joined the service. We’re a long way from the eight million raised between 2020 and 2021. Another sign of slowing: the company’s operating profit is lower than the previous year. Perhaps the decrease is due to the decrease in the sale of consoles, which itself is related to the shortage. Oscar Le Maire, a video game journalist who specializes in analyzing financial data, is best reported on it:

From top to real fast bot

In its financial report, Sony clearly states that it is reviewing its PlayStation 5 sales forecast downward. If the company expects to sell 14.8 million consoles at the end of the fiscal year (which will take place on March 31, 2022), then 11.5 million units Sony expects to sell today, a 22% decrease. And it is clear that when all the news that appeared in recent weeks accumulated, Sony’s stock market price ranked:

Stock price over the past 6 months (left), stock price over the last 30 days (right)

Sony: Despite the excellent results, the company plunges into the stock marketSony: Despite the excellent results, the company plunges into the stock market

It is interesting to note that, however, at the end of 2021, Sony’s shares were not at all good: they reached a value of 15,520 yen (120 euros), a record in the company’s history. And as they say “The higher we go, the harder it is to fall“. The value peaked, and the value remained around 14,000 yen before “falling off”: 2,000 yen was lost on January 18 … the day Microsoft announced the acquisition of Activision Blizzard. Then its value rises to 12,000 yen (100 euros) and stabilizes. Even the announcement of its Bungie takeover doesn’t excite her again. As mentioned earlier, financial statements do not bear “good” news, although they are often used as a way to entice shareholders.

In any case, we’ll have to wait for Sony’s next plans to confirm or reverse the trend: Big exclusives are expected in the coming days and months (Horizon, Gran Turismo 7, ForSpoken…) during Spartacus (a competitor to Xbox Game Pass).

source : Sony’s financial statements – 1And 2And 3

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