Sony’s PlayStation 5 sales remain relatively stable and strong, with 3.3 million units sold in the second fiscal quarter compared to 2.2 million in the previous quarter, bringing total sales to 13.4 million units, Sony said. . Game sales also rose significantly to 76.4 million units compared to 63.6 million in the previous quarter, largely due to third-party sales.
Overall, this represented a healthy 27 percent increase in gaming revenue to 645.4 billion yen ($ 5.68 billion). However, operating income of 82.7 billion yen ($ 728 million) was down 3.4 billion yen ($ 29 million) from the previous quarter. Sony’s fiscal year ends on March 31, 2022.
How then can profits be less when sales and revenues are on the rise? Although Sony sold more games in the last quarter, the first titles fell significantly, from 10.5 million last quarter to 7.6 million in Q2. This has been offset in numbers by third-party games, but they are usually not as profitable. Both Microsoft and Sony bought game studios to improve their Xbox / PS first-page titles, but Microsoft was more prolific in that regard.
And while PS5 sales rose, PS4 units dropped significantly, to just 200,000 from half a million in the previous quarter. Other factors Sony mentioned were “a loss resulting from strategic prices for PS5 hardware that were lower than production costs.” This means that Sony may have sold the PS5 with minimal or negative profits this quarter, although in August the company said it was no longer selling the PS5 at a loss.
Despite the drop in quarterly revenue, Sony’s gaming division seems to be on a pretty solid footing. In an August call for payroll, Sony CFO Hiroki Totoki told investors that his PS5 sales target was set higher than the 14.8 million units sales the PlayStation 4 achieved in its first year. Based on today’s data, PS5 sales are closely following that trajectory.
The company then said it had provided enough components for 22.6 million units sold by March 2022. That would be enough to meet its sales projections, but if sales really explode over the holidays, it may not have a large margin for error – meaning it would shortages could continue until next year.
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