Sony has announced a surge in revenue and profit from PlayStation 4 sales ahead of the PS5’s November launch.
As the PlayStation 4 slowly drives off to the sunset, Sony’s gaming division continues to rake in the profits. The Japanese company has posted PlayStation revenue of 507 million yen, or more or less $4.9 billion. Moreover, the company also posted an operating profit of 105 trillion yen, or more or less $1 billion. These numbers came in during the July-September quarter.
The Verge reports that these numbers represent an increase of 52% and 40% for Sony’s revenue and profits, respectively, over the same period in 2019. Moreover, this increase doesn’t usually happen ahead of the release of a new console. Sony is launching the PS5 in November, after all.
Sony admits that its profits and revenue took a hit. Rising costs dented its profits, while lower PS4 sales cut its income. However, this year, more people bought digital games and subscribed to PlayStation Plus. These sales made up for the gaps.
For the quarter, Sony released its best-selling title, Ghosts of Tsushima. The open-world samurai action-adventure sold 2.4 million copies in just three days during its July release. Moreover, the game is now Sony’s fastest-selling new PlayStation IP.
By the end of March 31, Sony expects to make 2.6 trillion yen in revenue and 300 billion yen in profit. These numbers would mark a 26% rise in both streams.
The PlayStation 5
In the short-term, Sony might only earn limited revenue if it can’t manufacture enough PS5 units. SIE chief Jim Ryan told Reuters that the PS5 enjoys a “very considerable demand.” Ryan said that people who want to buy a PS5 might not get one on launch day.
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