Music and gaming help Sony hike net profit forecast

Well done Sony!

Well.. Sony did said at the begining of this year that SONY will dedicate a big part of their effort to content production and content creator's support....

On a personal level, I felt sad when I heard this, 'cause for me SONY is electronic gadgets maker... but then again times changes, business changes and I think SONY desicion to shift big part of their effort tobecame a media company was correct.

Sony is a great example of long-term sustainable innovation and adaptability. It is a pride for Japan. Congratulations...

https://www.gamesindustry.biz/solid-q1-for-sony-but-ps5-hardware-unit-sales-down-27-yoy

For the three months ended June 30, 2024:

Sales: ¥3.01 trillion ($20.5 billion), up 2% year-on-year

Net income: ¥235 billion ($1.6 billion), up 8.2% year-on-year

Game & Network Services sales: ¥864 billion ($5.89 billion), up 12% year-on-year

Revenue from hardware sales were on the decline though, down 21% to ¥146 billion ($990 million), with the PlayStation 5 shifting 2.4 million units during the quarter compared to 3.3 million last year – a 27% decrease in units.

When compared to Q4 FY23, which ended on March 31, 2024, PS5 sales were down 44% in revenue and 46% from the 4.5 million units shifted then.