In its latest earnings drop, Sony said it sold 3.3 million PlayStation 5s this quarter, matching exactly what it did last year and bringing total units sold since launch to 25 million. Its numbers this quarter are far short of what it needs to hit the 18 million PS5 sales target for fiscal year 2022, though. Sales halfway through the fiscal year (ending March 31st) are now at 5.7 million, which is also nearly the same as 2021 at this point (5.6 million).
Despite the equal number of PS5s sold, revenue was up significantly over last year (12 percent) to 727 billion yen ($4.92 billion), thanks in part to a PS5 price increase earlier this year. However, profit was down by 49 percent due to the company’s recent acquisition of Bungie, along with game developer cost increases.
Sony sold 11.5 million consoles last year, so it’s a good bet that 2022 sales will be about the same . However, a lot depends on holiday sales and whether it can keep production up with demand. That’s a problem that has plagued the PS5 since it arrived, due to the pandemic and other issues. In May, Sony said that it will finally be able to ramp up production to meet PS5 demand as supply chain issues ease. While it hasn’t given any numbers in that regard, anecdotally it appears that the console has been easier to find in recent months.
Meanwhile, software sales fell to 62.5 million units from 76.4 million this time last year. Digital downloads accounted for 63 percent of that, up slightly from last year. PlayStation Plus subscriber numbers declined for the second consecutive quarter.
Sony has revised its revenue projection for next quarter downward to due an expected drop in first-party game sales. However, it’s bullish on the next fiscal year, aiming to ship 23 million PS5 units in that time. Interestingly, it also still expects to 18 million units by the end of the fiscal year (March 2023), so it may still have something up its sleeve.
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