Sony released their financial results today, and it had good news for stockholders. PS4 sales continued to be strong, and were actually up in quarter two of 2017 over last year. Sony managed to ship 4.2 million units during that time period, which is an increase of .3 million from 2016. In total, it was revealed that Sony has shipped over 67.5 million PS4 units to stores.
Here’s what Sony had to say about the strong PS4 sales:
Sales increased 35.4% year-on-year (a 25% increase on a constant currency basis) to 433.2 billion yen. This significant increase was primarily due to an increase in PlayStation 4 (“PS4”) software sales including sales through the network, the impact of foreign exchange rates, as well as an increase in PS4 hardware sales.
Operating income increased 35.8 billion yen year-on-year to 54.8 billion yen. This significant increase was primarily due to the above-mentioned increase in sales, partially offset by an increase in selling, general and administrative expenses. During the current quarter, there was a 3.1 billion yen positive impact from foreign exchange rate fluctuations.
Operating income includes a favorable adjustment of 5.1 billion yen that resulted from the recognition of internal royalties in the current quarter, rather than in the first quarter of the fiscal year ending March 31, 2018. This adjustment resulted from a discrepancy in the timing of when internal royalties were recognized at the relevant subsidiaries within the segment.
This is certainly great news for Sony, as the PlayStation brand continues to be a cornerstone of the company. It also says a lot that sales are still rising for the system, and haven’t been on a steep decline. That may lead to this generation of consoles lasting longer than initially planned. Only time will tell, although gaming analysts expect to see the PlayStation 5 in 2020.
