[Bloomberg] Sony to Buy Back Stock After Profit Falls Short of Estimates
rickybooby87
Member
Lolthis is the stupidest thing I've read that benefits Microsoft which is why the continue to shrink the lead Sony had if that continues into the holiday with games like starfeild and the likes there's going to be tide change.
Don't be mad. It's the truth.
Hezekiah
Banned
Except the number of Switch units sold are down, and Xbox still doesn't give out numbers lol.
ArtHands
Thinks buying more servers can fix a bad patch
I can imagine releasing a PC port is him trying to steer the ship away from making more losses due to disappointing news of failing the estimate.
wipeout364
Member
Stock buybacks are evil. Just the CEO and board trying to up their bonus for maintaining stock prices. Money should be spent on reinvesting in the company or paying a dividend.
Zeroing
Banned
RIP
"Went for a coffee, never came back"
StreetsofBeige
Member
Wow missed earnings. On the plus side the stock is up today 2% which makes sense as the company is buying back about 2% of its market cap (about $1.5 billions worth).
Fess
Member
Most stocks are up today, bouncing up from yesterdays fall is my thinking.
SlimySnake
Flashless at the Golden Globes
I am sorry. How can you DOUBLE your install base AND lose subscribers? How can you just release two of your biggest games in Horizon and GT7 this quarter and miss profit projections? Wasnt the whole point of making them cross gen to increase earnings? What were the sales of these games? Did they miss projections?
Perhaps, and this is just a wild guess, this is due to Sony's greed backfiring on them. $70 for these games was always a ridiculous proposition. The 1:20 attach rates for Demon Souls, Ratchet and Returnal proves this. They wont even release GT7 and Horizon numbers so god knows what their attach rate is like. Clearly they didnt light the charts on fire or they wouldve been screaming the numbers off the top of the lungs. So the decision to make them crossgen clearly backfired.
GOW going on PC didnt help either. I am sure the PS+ subs dropping is due to people seeing all these PC ports and thinking why the fuck would i invest in this eco system when I can just build a PC and play xbox exclusives, third party games and Sony games without paying any bs subscription fees. Everyone who has ever sold consoles knows this. Everyone except for the current leadership over at Sony.
Hardware sales projections I can understand. But Cross gen sales projections, PC sales projections, PS+ subscriber projections. They likely missed them all. Maybe it's time to hold the guy at the top responsible.
Perhaps, and this is just a wild guess, this is due to Sony's greed backfiring on them. $70 for these games was always a ridiculous proposition. The 1:20 attach rates for Demon Souls, Ratchet and Returnal proves this. They wont even release GT7 and Horizon numbers so god knows what their attach rate is like. Clearly they didnt light the charts on fire or they wouldve been screaming the numbers off the top of the lungs. So the decision to make them crossgen clearly backfired.
GOW going on PC didnt help either. I am sure the PS+ subs dropping is due to people seeing all these PC ports and thinking why the fuck would i invest in this eco system when I can just build a PC and play xbox exclusives, third party games and Sony games without paying any bs subscription fees. Everyone who has ever sold consoles knows this. Everyone except for the current leadership over at Sony.
Hardware sales projections I can understand. But Cross gen sales projections, PC sales projections, PS+ subscriber projections. They likely missed them all. Maybe it's time to hold the guy at the top responsible.
Slicker than your average
Banned
Arguably the biggest clown
on gaf. Pour one out for ronald while you queue up for your chicken nugget meal.
Magic Carpet
Gold Member
My PS plus is up this July and I won't be renewing because I have to buy the first party games anyway no matter what.
Sony has my money for first party but they lost me on service.
KungFucius
King Snowflake
Jesus. 3.3 Million / 4.6 million off target in 21/22. So they are behind by 8 million units. That is a huge kick in the balls.
Bernd Lauert
Banned
Negotiator101
Member
Papacheeks
Banned
In UK chart threads, Horizon and GT7 have been charting each time there's a stock drop?
Why would they release numbers on a game where majority of sales according to charts is PS5 version which is on a install base of 18.5 Million? They didn't talk about Miles morales sales milestone until good 6+ months.
SlimySnake
Flashless at the Golden Globes
But thats another dumb move then. People are clearly waiting to play these games on PS5 so making them cross gen was a dumb decision that didnt help them meet sales projections.
And what they have done is pretty similar to the new Batman Arkham game. They made it cross gen which limited just how far they could push the tech, and now its effectively a next gen only game anyway but without utilizing any of the new tech.
PropellerEar
Member
yurinka
Member
'After' is a misleading word, because Sony will repurcase these stocks as part of a plan they decided years ago. They are buying stocks because of that plan, instead of because the recent results.
As usual Bloomberg tries to twist everything related to Sony to make it sound as bad as possible.
'Continue'? When did MS start to shrink the lead? Did MS announce Xbox Series console sales numbers? Or game sales of their 1st party games?Lol
Or any profit or operative income number related to their gaming division, Xbox or Gamepass?
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Md Ray
Member
Edgelord79
Gold Member
Bo_Hazem
Banned
They sell make less more than be can't... you get, now give me your laugh emoji like the rest, please.
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SentientStone
Member
This can only mean one thing: we need more premium PS+ tiers!
Captain Toad
Banned
Because it implies a cause and effect that simply isn't true.
At some point people are gonna come to terms with the fact that these guys basically lose money on consoles and make money on software sales.
Wanna know how you make a software sale and skip the cost of making a console? You guessed it, sell it on pc.
Sony fans are gonna own a Playstation, and be a subscriber. People who just want to play a sony game here or there aren't going to sub so why would sony want to make a console for them?
Wulfer
Member
And so will Microsoft if they release 10 Starfields (as you put it). Only MS will double the output of Sony because they have the X and the S consoles. Doubles a bit much, I'd go with the 1.3% over PS5 if 10 Starfields are released. It's really not unheard of for MS now. They have the potential of owning 32 studios and that's alot! They were a powerhouse when they added Bethesda. Not sure what adding ABK does yet?
GHound
Member
why do they call it oven when you of in the cold food of out hot eat the food?
Looks like the next major Sony acquisition was Sony. Another one all of the insiders missed.
Chukhopops
Member
PS5: trails PS4 sales by 3.3 million as of end of Q1 22
Xbox series: sells faster than XBO as of February 22
GAF mathematicians: How can you tell the gap is shorter compared to last gen? There's no way to know!
Xbox Series X/S is Microsoft's fastest-selling Xbox console generation, despite supply constraints
Microsoft's Xbox Series X and S are outpacing sales of previous Xbox console generations - despite the fact that supply…
www.eurogamer.net
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lh032
I cry about Xbox and hate PlayStation.
tbf, sells faster than XBO doesnt say much. You still did not show any figures though : |PS5: trails PS4 sales by 3.3 million as of end of Q1 22
Xbox series: sells faster than XBO as of February 22
GAF mathematicians: How can you tell the gap is shorter compared to last gen? There's no way to know!
Xbox Series X/S is Microsoft's fastest-selling Xbox console generation, despite supply constraints
Microsoft's Xbox Series X and S are outpacing sales of previous Xbox console generations - despite the fact that supply…
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Physiognomonics
Member
And how right you are. We can see it that their recent strategy for PS5 is not working. On the other hand the PS4 strategy (60$ / 60€ and no PC ports) was actually working quite well. Why would people buy a PS4 / PS5, buy 70$ / 80€ games + PS subs when they know they will be able to eventually play all exclusives on PC (as they promised it) while being cheaper and play online for free?
Chukhopops
Member
And yet it's enough to prove the gap is narrower than it was last gen.
In fact, based on the statement above I can say the gap is at least 3,300,001 units sold shorter than it was in previous generation at the same point.
John Wick
Member
It sometimes amazes me when people respond with these disguised replies feigning ignorance
Negotiator101
Member
Did you bother to read the comments I replied to? There is nothing disguised as you put it
John Wick
Member
Is that why you replied with a "why" when it's clear that the chip shortages are having a massive impact on Sony's ability to supply PS5 hardware. Supply constraints are keeping the gap closer than what it could be.Did you bother to read the comments I replied to? There is nothing disguised as you put it
The Eradicator
Member
What's this? People don't enjoy losing money in the stock market? What "whiny bitches!" Smh
