MOSCOW (Pakistan Point News / Sputnik - 09th August, 2023) Japanese electronics giant Sony Group Corporation generated 217.5 billion Yen ($1.5 billion) in net income attributable to stockholders in the first quarter of 2023-2024 fiscal year, down 17% year-on-year, the company said in a financial report on Wednesday.
Diluted net income attributable to Sony Group Corporation's stakeholders dropped to 175.6 yen from 209.6 yen year-on-year and the company's operating income decreased by 30% to 253 billion yen, the report said. Meanwhile, the entity's total sales and financial services revenue as of the first quarter rose by 33%, amounting to 2.96 trillion yen, the report read.
The company has forecast that its net profit will stand at 860 billion yen by the end of the current fiscal year ending March 31, 2024, down from 1 trillion yen as of 2022-2023 fiscal year, according to the report.
Additionally, revenue for the current fiscal year is projected at 12.2 trillion yen, up from 10.9 trillion yen year-on-year, the company said.
Sony Group Corporation is headquartered in Tokyo and operates as one of the world's largest manufacturers of consumer and professional electronic products.
