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Sunday, April 21, 2024
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Sony Raises Outlook Behind Strong PS5 Sales

  • Sony raised its financial outlook for the year following its latest earnings report.
  • The Japanese tech giant generated $21.5 billion in revenue in fiscal Q2.
PlayStation/Design: Alex Brooks

Sony lifted its operating income forecast for the year by 6% to $9.2 billion following Thursday’s earnings report. 

The Japanese tech giant posted $21.5 billion in revenue in fiscal Q2, a 13% increase year-over-year. The results were driven by Sony’s Game & Network Services segment, which saw sales jump 27% to $5.7 billion.

The PlayStation 5 has sold 13.4 million units globally since its November 2020 release, making it the fast-selling console in Sony’s history. The company sold 3.3 million PS5 units in Q2.

Despite strong PS5 sales, Sony’s PlayStation Network saw monthly active users decline for the third quarter in a row. The service reported 104 million users at the end of the period.

Sony has otherwise expanded its gaming reach through a series of recent acquisitions.

  • In September, it acquired Liverpool-based gaming studio Firesprite.
  • The same month, it purchased Texas-based developer Bluepoint Games for an undisclosed amount.

Earlier this month, Sony Pictures sold GSN Games — a division of its Game Show Network cable channel — to mobile gaming publisher Scopely in a deal valued at $1 billion.

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