Sony (NYSE:SNE) had warned that “the beginning of the end” was near. This is not a phrase you expect when business is booming. Sony results were released today and confirmed that indeed business is booming.
Despite the ominous tone, Sony’s latest financial results showcased impressive results. Results showing that sales of its PlayStation 4 are speeding up… not slowing down.
Sony Results: Business is Booming
Six months after new CEO Kenichiro Yoshida took over, the company recorded $19.6 billion in revenue. $2.2 billion of this was pure profit. The period was for the three months ending September.
More impressive is the fact that these Sony results are better than the last quarter’s. So Sony is doing very well.
PlayStation is the main revenue driver for the company, bringing in more than double the revenue than any other division. However, its mobile division continues to be its weakest link—it is responsible for Sony’s only losses.
The PlayStation part of the business brought in $803 million in profit alone. It brought in almost $5 billion in revenue.
However, Sony didn’t expect such strong results. In fact, it thought the console had reached its peak and sales were expected to decline. It was so expected that the prediction came directly from its gaming chief John Kodera.
But the console proved to remain as popular as ever with 3.9 million units sold over the three-month period. This tally is more than in either of the two preceding quarters.
And then there are the sales of games. 75.1 million games were purchased, with Marvel’s Spider-Man making up for 3.3 million of these sales.
Christmas is Coming
The latest quarter was one of the best quarters for game sales in recent history, and following on from that, PlayStation Plus subscriptions are increasing too. By the end of September, the company had 34.3 million subscribers.
Christmas is around the corner. And off the back of these increased results, the company is, naturally enough, now predicting increased takings over the holiday period. But it won’t know until the next quarter results how this holiday season will go for PS4 sales.
Something tells me that sales of this console will not be slowing down anytime soon.
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