PS5 Shipments Drop by a Third, but Sony's Gaming Business Profit Rises by 83%
Profit increased amid higher game and network service sales
Japan's Sony reported growth in its Game & Network Services division for the fiscal quarter. Profit increased due to higher game and network service sales, as well as the absence of major write-offs reflected in last year's results, including expenses related to the Bungie studio.
PS5 shipments to retailers decreased to 2.6 million consoles compared to 4.0 million a year earlier. Sony separately clarifies that it counts shipments to stores, not sales to end consumers. Revenue from hardware also declined, but this did not prevent the division from improving its overall financial performance.
The decline in the hardware segment was offset by software sales. The total volume of games sold increased, with Sony's own studio games showing stronger growth. The share of digital downloads rose, as did revenue from digital copies, additional content, and network services. The number of monthly active users on PlayStation Network also increased.
The PS5-exclusive game Marvel’s Wolverine, released in September, sold 2.4 million copies. Additional content is not included in this figure.
Sony raised its annual forecast for revenue and operating profit in the gaming division. The company attributed the revision to higher sales of third-party games, reduced expenses, and growth in network services. The positive effect was partially limited by the postponement of the release of one of its own games.
