Sony Report: Profit of the gaming division grew by a third, console sales continued to decline
Sony reported its financial results for the first quarter of fiscal 2024, which ended on June 30. Below are the performance metrics for the company’s gaming division.
- The division’s revenue amounted to ¥864.9 billion ($5.9 billion), representing a 12% increase compared to the previous year.
- Its operating profit also grew—by 33% to ¥65.2 billion ($444 million).
Revenue, operating profit, and adjusted OIBDA of Sony's gaming division in Q1 of 2023 and 2024
- Revenue from game and gaming content sales was ¥486.48 billion ($3.3 billion, +19.7%), revenue from gaming services was ¥159.3 billion ($1.09 billion, +28%), and revenue from console sales was ¥146.3 billion ($1 billion, -21.7%).
- During the quarter, Sony sold 2.4 million PlayStation 5 consoles, approximately 900 thousand fewer consoles than the previous year. In total, 61.7 million PlayStation 5 consoles have now been sold.
- Game sales fell from 56.5 million copies to 53.6 million copies year-over-year. 6 million copies were from Sony’s internal studios. The share of digital sales reached 80%.
- As of June 30, 2024, the monthly active user base of PlayStation Network was 116 million people, compared to 108 million people last year.
- Sony slightly raised its forecast for the gaming division for the entire fiscal year. It now expects revenue to reach ¥4.32 trillion ($29.4 billion) and operating profit to be ¥320 billion ($2.18 billion). Previously, the company had forecasted ¥4.2 trillion ($28.6 billion) in revenue and ¥310 billion ($2.1 billion) in profit.
