{"id":33289,"date":"2023-11-09T07:31:50","date_gmt":"2023-11-09T07:31:50","guid":{"rendered":"https:\/\/isafespend.com\/news\/sony-reports-29-drop-in-operating-profit-as-weakness-in-chip-business-hits-home\/"},"modified":"2023-11-09T07:31:52","modified_gmt":"2023-11-09T07:31:52","slug":"sony-reports-29-drop-in-operating-profit-as-weakness-in-chip-business-hits-home","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=33289","title":{"rendered":"Sony reports 29% drop in operating profit as weakness in chip business hits home"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p>Sony\u00a0on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its imaging sensor business<strong>.<\/strong><\/p>\n<p>Here&#8217;s how Sony did in the September quarter versus LSEG consensus estimates:<\/p>\n<ul>\n<li>Revenue: 2.8 trillion yen ($18.5 billion)\u00a0versus 2.87 trillion yen expected. That represents an 8% increase year-over-year.<\/li>\n<li>Operating profit:\u00a0263 billion Japanese yen versus 304.4 billion yen expected. That marks a 29% drop year-over-year.<\/li>\n<\/ul>\n<p>The results follow a fiscal first quarter which saw Sony report a 33% rise in revenue year-over-year to 3 trillion Japanese yen but a 31% year-on-year drop in profit to 253 billion yen.<\/p>\n<p>The company cited weakness in its financial services and pictures division, which saw a small slump on the back of strikes carried out by the Writers Guild of America and other unions, in protest against using artificial intelligence to generate movie scripts.<\/p>\n<p><em>This is a developing story and will be updated shortly.<\/em><\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/09\/sony-earnings-q2-2023-29percent-drop-in-profit-for-japanese-tech-giant.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sony\u00a0on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its imaging sensor business. Here&#8217;s how Sony did in the September quarter versus LSEG consensus estimates: Revenue: 2.8 trillion yen ($18.5 billion)\u00a0versus 2.87 trillion yen expected. That represents an 8% increase year-over-year.<\/p>\n","protected":false},"author":1,"featured_media":33290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-33289","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sony reports 29% drop in operating profit as weakness in chip business hits home | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Sony\u00a0on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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