Sony reported that it shipped 6.3 millions PlayStation 5 consoles during the quarter ending March 31, 2022. This brings the total number of console sales to 38.4 Million, according to its most recent earnings release. This is more than three times what Sony shipped during the same quarter last year (2,000,000). The Japanese electronics giant has shipped 19.1 millions PS5 in fiscal 2022, exceeding its previous forecast of 18,000,000.
According to Bloomberg, the situation on the software side was more mixed. Overall, revenue from software sales was up. However, units shipped dropped from 70.5 millions in the fourth quarter 2021 to just 68 million during the same quarter 2022. PlayStation Network monthly users increased from 106 to 108 millions, while PlayStation Plus subscribers remained flat at 47.4million.
Sony’s problems with hardware supply seem to be over.
This discrepancy is partly due to the absence of major first-party releases during the quarter. There are concerns about the PS5’s early hardware supply problems, and how they are affecting software sales and subscriptions. This is important for the company to create a “virtuous circle” of mutually reinforcing sales.
Report the financials of the company were strong in general, reporting a record operating profit for the year. The figure was 1.21 trillion (approximately $8.9 billion). The revenue for the quarter increased by 35 percent, to 3.06 trillion Japanese yen ($22.5 billion). Sony doesn’t break out the sales of its PlayStation VR2 head-mounted display, which was launched during the third quarter.
According to Bloomberg, Sony’s profit projection for the current fiscal period is “conservative,” as it could be protecting itself against a decline in consumer spending or expectations that Sony will sell less games produced by its PlayStation Studios. The company’s operating profit is expected to be 1.17 trillion yen ($8,6 billion) which represents a 3 percent decrease year-over-year.