Sony boosts profits thanks to demand for games

Sony published its next quarterly financial report, and also adjusted its revenue and sales forecast for the entire financial year. In the reporting period, the volume of operating profit received was higher than analysts’ expectations due to the success of the company’s gaming division.

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Total PlayStation 5 sales reached 65.6 million units, and the company shipped 3.8 million consoles during the quarter. This is 22% less than a year earlier, but the PS5 has finally caught up with the dynamics of the PS4 and will obviously surpass it after the release of Pro. The amount of funds received from the company’s software sold increased by 28% to 612.3 billion yen. Astro Bot sold 1.5 million copies. The number of PSN users grew by 9 million to 107 million.

As a result, in the second quarter of the fiscal year, Sony received revenue of 2.97 trillion yen ($19.4 billion), which is slightly below analysts’ expectations, who predicted that this figure would be $2.989 trillion yen. Operating profit amounted to 445.1 billion yen ($2.91 billion), which is 73% more than the 336.07 billion yen expected by analysts.

Against this background, the company slightly improved its revenue forecast for the entire financial year, which for Sony will end in March 2025. At the end of the year, the company expects to receive 12.7 trillion yen in revenue, while previously predicted 12.6 trillion yen. The forecast for operating profit for the entire fiscal year remained unchanged at 1.3 trillion yen.

The improvement in forecast comes on the back of the success of the gaming and online services division, which includes PlayStation brand consoles. The division’s quarterly revenue was 1 trillion yen, up 11% from the same period a year earlier. The gaming division’s main success comes from strong digital game sales and PlayStation Plus subscriptions. Supplies of game consoles were not so large against the backdrop of a generally weak market.