Sony Hikes Gaming Revenue Forecast Ahead Of PS5 Launch, New Financials
Sony’s gaming division still managed to drive huge profits for the Japanese-owned tech giant, with a PlayStation-related revenue of $507 billion yen (A$689bn).
The company also recorded an operating profit of $105 billion yen (A$142bn) for the July-September quarter, a boost of 40% for the same quarter last year.
As the highly-anticipated PlayStation 5 gaming console is slated for release next month, it is surprising Sony’s gaming revenue still enjoyed a stellar quarter ahead of the launch.
The company says a jump in game software sales and PlayStation Plus subscriptions bridged the gap as PlayStation 4 sales began to wind down.
Sony’s gaming revenue was also bolstered by the release of PS4 game Ghost of Tsushima, which is PS4’s fastest selling first-party original IP debut with more than 2.4 million units sold through globally in its first 3 days of sales.
Ghost of Tsushima is now PS4's fastest selling first-party original IP debut with more than 2.4 million units sold through globally in its first 3 days of sales.
— PlayStation (@PlayStation) July 24, 2020
Sony has since revised its full-year gaming forecast to an impressive 2.6 trillion yen in revenue and 300 billion yen in profit by March 31.
Sony’s music sales also increased by 5.3% YoY to 230.9 billion yen. The segment’s operating income was 52.9 billion yen, an improvement from 37.5 billion yen in the same quarter in 2019.
Sony’s theatrical department revenue took a tumble of 26.2% to 192.3 billion yen, due to the COVID-19 pandemic affecting ticket sales.
The segment’s operating income was 31.8 billion yen compared with 39.3 billion yen in the prior-year quarter.
Meanwhile, Sony’s Electronic Products and Solutions saw a slight rise from 493.5 billion yen in the same quarter 2019 to 504.7 billion, an increase of 11.2% YoY.