Sony reports increase in PS5 hardware and software revenue compared to this time last year
This comes amid a fall in operating profit elsewhere
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In its latest earnings announcement, which concerns the second quarter of the 2023 financial year,Sonyhas revealed some significant new insight into the current trajectory ofPlayStation 5hardware and software sales.
As reported byReuters, this second quarter saw 4.9 million PS5 units sold bringing the current sales total for this financial year up to 8.2 million. This represents an increase in overall hardware sales compared to the same period last year, although the revenue from much of this growth has been offset by increased hardware losses.
In spite of this, the company still plans to stick to its target of 25 million PS5 sales by the end of this financial year which even Sony president Hiroki Totoki admits might “not [be] something we can attain very easily.”
With the arrival of thenew slimmer PS5 modelon the horizon, not to mention the imminent release of thePlayStation Portalremote player, hardware sales may well start picking up in the coming months - especially with potentialBlack Friday dealson the way.
In terms of software growth, the company has revealed thatMarvel’s Spider-Man 2is performing very well with five million units already sold as of the end of last month. Third-party game sales have also increased, including sales of add-on content, which is perhaps not too unexpected given the arrival of recent high-profile hits likeBaldur’s Gate 3andLies of P.
Sony expects this growth to continue into the third quarter and has increased its full-year forecast for game sales by almost 5%. Although its gaming offerings have been performing particularly well, the company has suffered a decline in profit elsewhere.
In the chip division, for example, profit has decreased by almost 40% as a result of higher expenses and lower-than-expected sales.
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Dash is a technology journalist who covers gaming hardware at TechRadar. Before joining the TechRadar team, he was writing gaming articles for some of the UK’s biggest magazines including PLAY, Edge, PC Gamer, and SFX. Now, when he’s not getting his greasy little mitts on the newest hardware or gaming gadget, he can be found listening to J-pop or feverishly devouring the latest Nintendo Switch otome.
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