Sony kept notching new high scores during the pandemic. Now it is navigating far more difficult levels: the post-Covid home-entertainment hangover, rising competition and looming recessions in key markets.
The Japanese company, which reported its earnings for last quarter on Friday, lowered its profit guidance for the fiscal year ending next March. An increase in expenses due to its $3.6 billion acquisition of game studio Bungie, which was completed this month, accounted for part of that. But the company also expects weaker earnings in its game division.