Sony Cuts Profit Outlook on Weaker PlayStation Prospects

Sony Group Corp. cut its profit outlook as its PlayStation division faltered and game sales slumped.

The Tokyo-based entertainment conglomerate said on Friday that it now expects 1.11 trillion yen ($8.3 billion) in operating profit, down from 1.16 trillion yen previously. The gaming and network services group, which houses the PlayStation business, accounted for the full revision, taking a 16% cut from 305 billion yen to 255 billion yen.