PS5 Gives Sony A Boost

Sony’s PlayStation 5 has made its way into 4.5 million households and lifted the Japanese company’s fiscal third quarter numbers in the process. 

Despite selling the PS5 at a loss, revenue for Sony’s gaming division rose 40% year over year to more than $8.4 billion.

• Sony sold 103.7 million games between the PS4 and PS5.
• 47.4 million users have subscribed to PlayStation Plus, up more than 9 million from last year.
• In comparison, Xbox Game Pass reached 18 million total subscribers last month.

The numbers come as no surprise. Microsoft recorded its first quarter with $5 billion in gaming revenue thanks to the Xbox Series X|S, which like the PS5, released in November.

Many gamers are still trying to get their hands on Sony’s next-gen console. The company has described demand as “unprecedented.”

Sony is projected to sell 17.8 million PS5s by the end of the year and 63.9 million by 2024, per Omdia. The research firm expects Microsoft to sell 12.1 million units of its next-gen consoles through this year.

Overall, Sony reported $3.4 billion in profit — up 20% from the same quarter last year. Revenue topped $25.7 billion, up 9% year over year.