Shares of Sony Group Corporation SONY experienced a decline during Wednesday’s session after the company posted third-quarter financial results and revised guidance that exceeded estimates, as well as disclosed plans to list its financial arm in October 2025.
Sony Group reported third-quarter FY23 sales growth of 22%, amounting to $25.34 billion (¥3.75 trillion), surpassing the consensus of $24.62 billion. Their adjusted EPS of $1.99 also outperformed the consensus of $1.65.
The corporation then revised its FY23 sales outlook to $86.62 billion (¥12.4 trillion), down from a previous projection of ¥12.3 trillion, in contrast to the consensus of $87.32 billion.
As a result of these announcements, Sony Group shares fell 6.3% to $89.86 on Wednesday.
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