Sony Playstation Games are on display at a Best Buy store in San Rafael, California on December 17, 2024.
Justin Sullivan | Getty Images
Sony on Thursday raised its full-year revenue and profit forecasts after reporting a significant increase in game sales in the third quarter.
How Sony performed in the December quarter compared to analyst estimates from LSEG compilation:
- Revenue: 4.41 trillion yen (US$28.6 billion), with an expected 37.7 trillion yen. That rose 18% year-on-year and beat analyst expectations.
- Operating income: 46.3 billion yen, estimated to be 404.21 billion yen. That year it grew by 1%, which also exceeded analysts’ estimates.
Sony said it now expects its full-year sales for fiscal 2024 to reach 13.2 trillion yen, a 4% increase from November’s forecast. The Japanese technology giant also raised its annual operating profit outlook by 2% to 1.34 trillion yen.
The company noted that sales in the fiscal gaming and network services sector totaled 237.9 billion yen in the third quarter, a year-on-year increase of 16%. This is supported by increased sales of consoles and nonpartisan game titles, including additional content.
Sony sold 9.5 million PlayStation 5 consoles in the December quarter, up from 8.2 million in the same period a year ago.
The December quarter is a critical period for Sony, covering the popular holiday shopping season, which is often a lucrative time for consumer electronics companies.
In the last quarter, Sony Improved sales guide for 2025 For the fiscal year, the forecast for revising its revenues starting from the previous 12.6 trillion yen is slightly higher than the 12.7 trillion yen.
On Thursday, everyone’s eyes were focused on Sony’s gaming hardware business. The company said in its second-quarter fiscal quarter that it sold 3.8 million PlayStation 5 consoles, down 22% year-on-year.
Sony released the PlayStation 5 Pro last year, an upgraded version of its PS5 machine that has been playing since November 2020.
Competitors Nintendo Report The fiscal third quarter results were weaker in the third quarter And cut its predictions for the switch console. The Japanese gaming giant made fun of it last month Switch dubbing switch 2’s successor 2. It has not announced a price or release date, but said it will reveal more details on April 2.
