• Loading stock data...
Wednesday, January 15, 2025

Sony Posts $2.57B Profit Behind PS5 Sales

  • Sony raised its financial outlook for the year with its latest earnings report on Wednesday.
  • The tech giant posted a record operating profit of $2.57 billion in Q1.
PlayStation/Design: Alex Brooks

Sony raised its financial outlook for the year up to $6.4 billion from $6.02 billion following its latest earnings report on Wednesday. 

The Japanese tech giant posted a record operating profit of $2.57 billion in its fiscal Q1, a 15% increase year-over-year.

The strong quarter was driven by Sony’s PlayStation 5 console — which has sold more than 10 million units globally since its November 2020 release, making it the fastest-selling console in the company’s history. Sony also sold about 500,000 PlayStation 4 units during the quarter, bringing its lifetime sales to 116.4 million.

In May, the company said it expects to sell 14.8 million PS5 units in the fiscal year ending in March 2022.

Sony’s Game & Network Services division reported $5.6 billion in first-quarter sales, a 9.7% jump year-over-year. TVs, cameras, music, and movies also saw increased sales.

Sony has been expanding its gaming reach through a series of acquisitions.

  • In June, it acquired Finnish video game developer Housemarque, the studio behind PS5 hit “Returnal.”
  • Last month, it bought Netherlands-based Nixxes Software to strengthen PlayStation Studios.

There’s an urgent need for more blockbuster first-party titles like recent hits “Spider-Man: Miles Morales” and “Ratchet & Clank: Rift Apart.”

Sony reported 63.6 million games sold in Q1, down from 91.4 million in the same period a year prior.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How Sportradar and the NBA Are Shaping the Future of Immersive Fan..

By transforming raw data into tailored, interactive content, Sportradar helps turn the NBA’s enormous fanbase into active participants.
Nov 24, 2024; Los Angeles, California, USA; South Carolina Gamecocks center Sakima Walker (35) and UCLA Bruins forward Angela Dugalic (32) jockey for rebounding position during the fourth quarter at Pauley Pavilion presented by Wescom. Mandatory

Players Era NIL Tourney to Add Women’s Basketball in 2025

Get ready for a South Carolina–UCLA rematch.
Sep 21, 2024; Columbus, Ohio, USA; Marshall Thundering Herd running back Ethan Payne (28) dives in for the touchdown during the first quarter against the Ohio State Buckeyes at Ohio Stadium. Mandatory

Portal-Depleted Marshall Bows Out of Independence Bowl

Louisiana Tech (5–7) will take Marshall’s place.
Sponsored

Racing Forward: How SailGP is Redefining High-Performance Sailing and Championing Gender Equality

The most exciting racing on water is making waves by rewriting the narrative of what’s possible for women in high-performance sports.

Featured Today

Race leader and eventual stage winner Primož ROGLIČ (SVN/RedBull-Bora-Hansgrohe) in the final kilometer up the finish climb of stage 19 from Logroño to Alto De Moncalvillo (ESP/168km) of the 79th La Vuelta Ciclista a España 2024 on 6 September. // Kristof Ramon / Red Bull Content Pool // SI202409060905 // Usage for editorial use only //Primož ROGLIČ (SVN/RedBull-Bora-Hansgrohe) congratulated by teammate Florian LIPOWITZ (DEU/RedBull - BORA - hansgrohe) after a very strong stage 13 from Lugo to Puerto De Ancares (ESP/171km) of the 79th La Vuelta Ciclista a España 2024 on 30 August

Red Bull Is on a Hot Streak in Sports. Can It Win..

The company is betting on a big future in cycling.
Ohio State Buckeyes defensive end Jack Sawyer (33) knocks the ball out of the hands of Texas Longhorns quarterback Quinn Ewers (3) and returns the fumble for a touchdown in the fourth quarter of the Cotton Bowl Classic during the College Football Playoff semifinal game at AT&T Stadium in Arlington, Texas on January, 10, 2025.
January 11, 2025

College Football Is Closer Than Ever to Perfecting the Championship Process

Despite valid criticisms, the first expanded Playoff is working.
Jan 2, 2025; New Orleans, LA, USA; Notre Dame Fighting Irish head coach Marcus Freeman (R) reacts on the sidelines in the final minute against the Georgia Bulldogs during the fourth quarter at Caesars Superdome.
January 9, 2025

Amid Realignment Mania, Notre Dame Stayed Independent. It Paid Off

How the CFP semifinal-bound Fighting Irish made their business model work.
Ohio State wide receiver Jeremiah Smith (4) celebrates a first-down catch against Oregon during the 2025 Rose Bowl in Pasadena, Calif.
January 3, 2025

The Biggest Changes to College Sports Are Coming in 2025

Sweeping developments could affect the college sports foundation this year.

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
July 24, 2024

The Perfect Storm Propelling ‘EA Sports College Football’ to Early Success

Growing fandom and a long wait have already reaped dividends for EA.
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 3, 2024

Esports Winter: NBA 2K League Hits Pause Button Amid Industry Decline

The previously high-profile esports league is now effectively on hiatus amid widespread layoffs.
June 14, 2024

IOC Proposes Holding Separate Olympics for Esports

The organization’s executive board has proposed a separate Olympics for online gaming.