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Why gaming is a serious business for Sony
03 August 2018, 05:05 | Jodi Jackson
CREDIT KIMIMASA MAYAMA EPA-EFE REX Shutterstock
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.
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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).
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