Sony's financial performance is bolstered by increased game sales for PlayStation, as the PS5 surpasses 65 million units shipped
Sony's recent financial disclosures indicate a robust performance in its PlayStation sector.
The firm identified the Game & Network Services segment as a crucial driver for its financial upturn for the initial six months of the fiscal year. Consequently, the company has revised its annual revenue projection for games upwards.
The PlayStation 5's lifetime distribution has now surpassed 65 million units, although there is a noted reduction in year-over-year console sales.
The numbers
H1 (three months ended September 30, 2024)
| Sony Corporation | Game & Network Services |
|---|---|
| Net sales: ¥5.5 trillion ($36.1 billion, a 10% increase from last year) | Net sales: ¥1.9 trillion ($12.5 billion, an increase of 12%) |
| Operating income: ¥638.5 billion ($4.2 billion, a 43% increase) | Operating income: ¥204.1 billion ($1.3 billion, a rise of 108%) |
Q2 (three months ended September 30, 2024)
| Sony Corporation | Game & Network Services |
|---|---|
| Net sales: ¥3 trillion ($19.7 billion, up by 9% compared to the previous year) | Net sales: ¥1.1 trillion ($7.2 billion, a 12% climb) |
| Operating income: ¥389.3 billion ($2.6 billion, an increase of 57%) | Operating income: ¥138.8 billion ($911.9 million, a growth of 184%) |
The highlights
The upsurge in the Game & Network Services division was chiefly driven by higher sales of third-party games (inclusive of add-on content) and network offerings (majorly PlayStation Plus), along with favorable foreign exchange rate shifts.
Sony has adjusted its annual outlook for the PlayStation business, altering its forecast from August to mirror this performance.
Previously, the company anticipated net sales to reach ¥4.3 trillion ($28.3 billion) by March 31, 2025. The forecast has now been adjusted to ¥4.5 trillion ($30 billion), marking a 4% boost from the original forecast and a 5% rise from last year's figures.
Regarding operating income, initial predictions were set at ¥320 billion ($2.1 billion), which have now been revised to ¥355 billion ($2.3 billion), reflecting an 11% increase from the August projection and a 22% growth year-over-year.
There has been an improvement in the profitability of PlayStation hardware, although sales have seen a downturn.
During the six-month period, 6.2 million PS5 units were dispatched, with the bulk occurring in the last three months up to September 30, which is below the 8.2 million reported for the same time frame last year.
With this period's figures, PS5's lifetime unit distribution hits 65 million.
In the first half, 131.3 million full games were sorted, with 11.3 million being first-party titles – identical to the figure last year. Total game distribution for the first half of FY2024 was only 124.1 million, further highlighting the growth in third-party game sales this year.
In notable sales achievements, the release of 'Astro Bot' in September saw 1.5 million units sold globally in its debut month. The lifetime distribution for 'Ghost of Tsushima' now stands at 13 million on PC and PS5 combined.
For Q2, PlayStation Plus saw 116 million monthly active users, remaining consistent from the previous quarter and up from 107 million a year prior.
