Sony has reported strong sales for its PlayStation 5 (PS5) console, shipping 6.3 million units in the last quarter ending March 31st. This brings the total sales of the console to 38.4 million, surpassing its earlier forecast of 18 million by shipping 19.1 million units during the fiscal year 2022. The company reports that its financial results overall are strong, with revenue rising 35% to 3.06 trillion yen ($22.5 billion) and an operating profit of a record 1.21 trillion yen ($8.9 billion) for the year.
Despite the strong sales for PS5 hardware, there are concerns that the lack of major first-party game releases in the same quarter could affect software sales. The number of units sold fell from 70.5 million to 68 million in the fourth quarter of 2022. While Sony’s PlayStation Network monthly active users rose slightly from 106 million to 108 million, the number of PlayStation Plus subscribers remained flat at 47.4 million.
In addition to this, the earlier hardware supply issues that plagued the PS5 may be having a knock-on effect on software sales and subscriptions. These sales and subscriptions are important if the company wants to build a “virtuous cycle” of mutually reinforcing console and game sales. It is hoped that subsequent major game releases will help to improve these figures.
Sony continues to improve its hardware supply, and its earlier supply problems seem to be over. Despite this improvement, the company has kept its profit forecast for the current fiscal year conservative as it may be hedging against a drop in consumer spending and expectations that it will sell fewer games from its in-house PlayStation Studios this year.
In conclusion, Sony’s latest earnings report reveals that the company has surpassed its forecast for PS5 console sales. While hardware sales have been strong, software sales have fallen behind partly due to the lack of first-party game releases, but also potentially due to lingering hardware supply issues. The company’s progress in addressing these issues is promising, and it remains to be seen whether subsequent game releases will help boost software sales.
According to https://www.theverge.com/2023/4/28/23702131/sony-ps5-q4-2022-console-sales-game-shipments
The material in this article is written on the basis of another article.