Sony logs record highs in sales, operating income
DUBAI, 4 hours, 43 minutes ago Sony Corporation said its consolidated sales income grew 9 per cent in the financial year 2020while the operating income grew 15 per cent year-on-year against the same period last year, both touching record highs. The company has attributed the robust growth to the Game & Network Services (GNS) and Financial Services segments. Concluding March 31, 2021, the recorded operating income for FY20 was $9.1 billion up by 15 per cent from $ 7.96 billion (¥845 billion) in FY2019. Meanwhile, sales amounted to $ 84 billion against $77.8 billion from last year, hence registering an increase of $ 6.97 billion. Sony’s GNS segment witnessed an increase of $ 6.4 billion or 34 per cent in revenues compared to FY19. The consolidated sales clocked $ 25 billion while the operating income touched $ 3.22 billion in FY20. The increase in operating income was primarily due to an increase in sales of game software
After only more than five months since PlayStation 5 was launched, Sony’s new-generation console has proven to be a massive success in the market. It already sold 7.8 million units, helping Sony’s gaming division post its biggest fiscal year yet.
PS5 unit sales helped Sony achieve a record-breaking fiscal year
Sony revealed its financial results for the fiscal year 2020, ending March 31, which confirmed that it sold 7.8 million PS5 consoles since it was released last November. The document shows there were 4.5 million unit sales for the new-gen hardware in Q3 (ending Dec. 31, 2020) and 3.3 million were added in the January-March quarter. PS5 has performed better than PS4 did, which sold 7.6 million units in its first fiscal year.
The launch of the PlayStation 5 and a solid line-up for PlayStation 4 helped drive a strong year for Sony Corporation.
The company released its financial results for the full year ending March 31, 2020, which shows revenue growth in all but two of its divisions led, as usual, by the Game & Network Services segment, which operates PlayStation.
Buried within the report, Sony revealed PS5 has shipped 7.8 million units into retail since launching in November. This includes 4.5 million during its launch quarter and 3.3 million in the three months ended March 31.
While Sony only reports on shipments into retail, the ongoing sellout of PS5 stock wherever it appears likely makes it safe to say the full 7.8 million has been sold to consumers.
Bank it. Updated on 28 April 2021
PlayStation had its best ever financial year, Sony has reported.
PlayStation 5 sales hit 7.8m as of the end of March 2021.
That s ahead of where the PS4 was (7.6m sales) in the same timeframe, but it s worth noting the PS5 is severely supply constrained, and remains out of stock at most retailers.
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Sony s Game & Network Services (G&NS), which includes PlayStation, saw sales of 2656bn yen (£17.5bn), and an incredible 342.2bn yen (£2.26bn) in profit.
Both figures are up significantly on the previous financial year s performance. Sony said the 34 percent sales increase was primarily down to an increase in software sales, including add-on content, and an increase in hardware sales due to the November launch of the PS5. During the financial year, Sony released PlayStation 4 big-hitters The Last of Us 2 and Ghost of Tsushi
Wednesday, April 28, 2021
Sony’s Game & Network Services division is celebrating its best year ever with 7.8 million PlayStation 5 consoles shipped as of March 31, 2021.
Results published for the fiscal year reveal a 34 percent year-on-year increase in sales. Operating income increased from 103.8 billion yen to 342.2 billion yen. Sony attributes this “significant increase” to an increase in game software and hardware sales following the PS5’s launch as well as an increase in PS Plus subscribers. However, the increase in operating income was “partially offset by a loss resulting from strategic price points for PS5 hardware that were set lower than the manufacturing costs, as well as an increase in selling, general and administrative expenses related to the launch of PS5.” Analysts have pointed out that this is standard practice at the beginning of a console’s life cycle.