Analysts say Insomniac Games-developed Marvel’s Spider-Man 2 must deliver for the PS5 this fall after Sony‘s Q1 2023 financial performance missed expectations. The Group’s share price fell to its lowest point in a year after yesterday’s presentation.
Spider-Man 2 PS5 has to “carry Sony through the holidays,” says analyst
As reported by Bloomberg, Sony’s stock tumbled by as much as 6.7% when market opened in Tokyo today, August 10. It wasn’t just the PlayStation division that slightly missed targets; Sony’s movie and sensor business saw significant declines, with the company blaming the former partly on the ongoing Hollywood strikes.
Sony, who supplies image sensors to mobile device manufacturers, told investors that demand had slowed down and is not expected to recover until at least next year. On the PS5 front, Sony remained hopeful that it’ll meet its target of selling 25 million consoles within the financial year.
“All eyes are now on how Sony can grow PlayStation subscriber numbers and the release of Spider Man in the fall,” Japan-based analyst Serkan Toto told Bloomberg. “That game absolutely has to deliver in order to carry Sony through the holidays and into 2024.”
Marvel’s Spider-Man 2 will release on October 20, 2023.
