Sony shares have dropped by 8,2% against the background of finance report

Notwithstanding the still great PlayStation 4 sales, Sony began to lose its position and income. Company`s shares have dropped by 8,2% against the background of finance report and it is the maximum securities daily drop since June 2016.
The company`s shares amounted to near 5000 yen which is about $45.5 at 8:15 am London time on February 4. The main reason for the so disturbing fall is the Sony`s financial report, the company had published it February 1, before the stock reduction.
“Strong profits from game software were offset by higher promotional and marketing costs aimed at driving PS4 volumes,” Damian Thong, an analyst at Macquarie Group Ltd., commented the Sony shares. “We are moving to the sidelines until we can better assess the risks in the Games segment.”
According to the fourth quarter report the operating profit of the gaming department fell by 14% in the last quarter, while the number of sold of PS4 consoles was 8.1 million versus 9 million a year before.
“There is more downside as we believe slowing growth in its games division signals a very likely PS5 launch for next fiscal year and the ensuing costs that come with the launch of a new platform,” said Amir Anvarzadeh, an analyst at Asymmetric Advisors Pte.
The company also has lowered its total sales forecast for the fiscal year that will end in March: from 8.7 trillion yen to 8.5 trillion yen. At the same time, by the end of the fiscal year 2018, the company expects a record profit.
“The market is closely watching for a turnaround in the mobile communications business, but it looks things are worse year-on-year due to a decrease in smartphone unit sales,” Andrew Jackson, head of Japanese equities at Soochow CSSD Capital Markets in Singapore.
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