ibusinesslines.com
ibusinesslines.com August 20, 2018


Why gaming is a serious business for Sony

03 August 2018, 05:05 | Jodi Jackson

CREDIT KIMIMASA MAYAMA EPA-EFE REX Shutterstock

Kenichiro YoshidaSony's CEO unveils company's mid-term strategy for 2018-2020 Tokyo Japan- 22 May 2018 Kenichiro Yoshida, President and Chief Executive Officer of Sony Corp. attends an announcement event at its headquarters in Tokyo

Sales figures as astronomical as 75 million in almost 5 years earns the PS4 the title of most popular gaming console in the world...ever!

Sony today shared a new financial report of the first quarter of the current fiscal year, so we know that PS4 has a new record in sales.

The company reported profits of 226.4 billion yen ($2.0 billion) for the April to June quarter, up from 80.9 billion yen in the same period past year and 21.2 billion yen in 2016.

Sony yesterday revised upward its full-year profit and sales forecast, reporting first quarter profits almost tripled from a year earlier, as it extends a roaring recovery under its new CEO. Annual results are now expected to reach JPY 2.135 trillion in sales and JPY 250 billion in profit.

The strong quarter should come as a relief to investors, who were caught flatfooted in April when new CEO Kenichiro Yoshida unveiled a dour full-year forecast, sending shares tumbling. "It has been a smooth power transfer", after Sony's recovery and the company "is forecast to continue displaying a strong performance at quite high levels". The company generated an operating profit of ¥195 billion (~$1.7 billion), which was much higher than the projections of ¥145.5 billion (~$1.3 billion).


Quite surprisingly, 20 million of those sales occurred in the company's last financial year, firmly reminding other competitors (such as Nintendo (OTC:NTDOY)) that Sony is still king of the gaming world.

This morning, Sony announced the newest games PlayStation Plus subscribers will get to download for free the month of August.

Despite being the third game in the Mafia series, it's not necessary for you to have played the first two games because it features a different protagonist and story.

Sony's semiconductor division - the beneficiary previous year of a unit sale and insurance payouts - saw profit nearly half to 29.1 billion yen. Previously, the company had forecast that net income would be ¥480 billion (~$4.2 billion) on sales of ¥8.3 trillion (~$74.14 billion).



Other News

Trending Now

Judge issues important ruling on 3D printed guns hours before midnight deadline
A federal judge subsequently issued a temporary restraining that would have blocked the company from releasing the blueprints. They enable anyone with a 3-D printer to make the parts of a plastic gun that would cost just a few hundred dollars.

Sales tax holidays scrapped as school shopping begins
Chandler is the Wisconsin Secretary of Revenue and he explained what the state's program is all about. That's because the new 0.45-cent sales tax bill passed by the Legislature and signed into law by Gov.

Google’s Clock app can now wake you up with Spotify
Perhaps Google wanted to test it with Spotify users before it invested the man-hours needed to include its own streaming services. Those with a premium Spotify account can select any track, album, artist, or playlist in the company's catalog to wake up to.

Jurgen Klopp reveals when vaunted signing Alisson will make Liverpool debut
Alisson arrived at Liverpool after drawn-out negotiations for a world-record £66.8m, but has hit the ground running. He added: " Liverpool are one or two players from the title".

In France, in broad daylight, brutally beat a woman (PHOTOS, VIDEO)
THIS is the shocking moment a man punched a woman in the face after she complained about him wolf-whistling. France's equalities minister Marlene Schiappa, told local media she was "outraged by the incident".

Houston doctor's killing may be due to 20-year-old grudge
Police posted images on Twitter in which Hausknecht is highlighted with a green circle and the suspect with a red circle. As CrimeOnline previously reported, the doctor and the suspect were both riding bikes at the time of the fatal shooting.

Indian interest rate hike unlikely to affect NRIs
Analysts at Rabobank explained, that as widely expected, the Bank of England MPC raised the Bank rate to 0.75% from 0.50%. Over the last two bi-monthly MPC review meetings; there has been a total of 50 bps increase in the repo rate.