PlayStation reports 53% Q3 revenue growth, driven by strong sales of consoles and third-party games

Sony has shared a financial report for the third quarter ended December 31, 2022. The company’s gaming division saw its revenue and profit increase thanks to strong sales of games and PlayStation 5.

God of War Ragnarök

• The Game & Network Services (G&NS) segment reached ¥1.24 trillion ($9.6 billion), up 53% year-over-year.
• The segment’s operating income was ¥116.2 billion ($900 million), up 25% year-over-year.

• Hardware (console and accessories) accounted for 48% of all sales, followed by game sales (42%) and network services such as PS Plus, PS Network, and ad revenue (10%).
• Digital games and add-on content (in-app purchases and DLCs) remained the largest categories, accounting for 40% and 43% of total game sales respectively.

• Sony sold 7.1 million PlayStation 5s during the fiscal third quarter for a total sales of 32.1 million units globally.
• 20.8 million PS4 and PS5 first-party games were sold in Q3, and full game software sales (including third-party titles) reached 86.5 million copies.

• The company also updated the sales data on God of War Ragnarök, which previously became the fastest-selling PS exclusive with 5.1 million copies sold at launch. The game has now sold 11 million units (as of January 22).
• Sony cited increased sales of hardware and third-party games, as well as the impact of foreign exchange rates, as the main reasons for G&NS revenue growth.
• Speaking of profits, the company listed an increase in sales of first-party titles as the most positive factor, and also pointed to the negative impact of increased costs. This includes ¥18 billion ($139.4 million) recorded as expanses related to acquisitions completed in Q1-Q3 FY2022.
• Sony expects G&NS revenue for the full FY2022 to reach ¥3.6 trillion ($20.1 billion). It also increased its operating income forecast by 7% to ¥240 billion ($1.85 billion).