As expected, Sony has released its financial report for the first quarter of fiscal year 2024. (period between April 1 and June 30, 2024), from which a fairly flat picture emerged, with 2.4 million PS5s sold, for a grand total of 61.7 million units.
It is a sharp drop compared to the 3.3 million PS5s sold in the same period last yearThat said, results were positive for Sony’s video game division, with sales in the “Games and Network Services” segment up 12% year-on-year and operating income up 32% (from 49.2 billion yen / approximately €336 million to 65.2 billion yen / approximately €444 million).
Are PS5 sales a problem?
In short, Sony sold fewer consoles, but did better than the previous year thanks to the impact of exchange rates, the increase in first-party software sales and the increase in service sales, mainly PlayStation Plus, which did not give up ground despite the price increases of the subscription tiers that occurred last year.
Be that as it may, the report also recognizes a “hardware sales decline“, which undeniably represents a problem for the company to solve.
Additionally, despite an overall increase in software revenue, Sony also reports a Game sales decline year-on-yearwith 53.6 million units sold in the first quarter of 2024. In the same period last year, sales had been 56.5 million units.
It is also specified that digital sales represented 80% of the total, against 70% in 2023. Therefore, physical sales fell to 20%, becoming even more marginal.
Given the results obtained, Sony has revised the Video game division estimates rise for the full fiscal year 2024, ending March 31, 2024, with sales and operating income guidance increased by 3%.
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