Sony's PlayStation Division Sees Revenue Increase to $27.5 Billion Despite Missing PS5 Sales Target

Sony has unveiled its full-year financial results, revealing a strong performance from its PlayStation business ahead of a year that is expected to see declines. The company's Game & Network Services division, which encompasses PlayStation, saw a 17% year-over-year increase in net sales to ¥4.3 trillion ($27.5 billion), while operating income rose 16% to ¥290.2 billion ($1.9 billion). Sony shipped 20.8 million PlayStation 5 units during the fiscal year, slightly missing its target of 21 million. The company has announced new leadership for PlayStation, with Hermen Hulst and Hideaki Nishino taking over as joint CEOs. Key highlights from the financial results include net sales of ¥11.3 trillion ($72.2 billion) and operating income of ¥1.04 trillion ($6.6 billion) for the full year. The Game & Network Services division reported net sales of ¥4.3 trillion ($27.5 billion) and operating income of ¥290.2 billion ($1.9 billion). Software sales for the division rose 24% year-over-year to ¥2.2 trillion ($14.1 billion), with digital software and add-ons accounting for ¥1.9 trillion ($12.1 billion). The company reported 286.4 million games sold for PS5 during the year, with 39.7 million being first-party titles. Helldivers 2 has become the fastest-selling PlayStation game, with 12 million copies sold in 12 weeks. Hardware revenues saw a 9% boost to ¥1.7 trillion ($10.9 billion), while network services revenue grew 17% to ¥545.5 billion ($3.5 billion). The company had 118 million active PSN users at the end of Q4, down from 123 million in Q3 but up from 108 million at the same time last year. Sony expects a decrease in hardware sales in the new financial year but forecasts an increase in non-first-party sales and a decrease in first-party sales. The company also predicts an increase in sales from network services, mainly driven by its PlayStation Plus subscription service.