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Sony posts $2.1 billion profit, as Playstation revenue keeps on increasing

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The company’s Playstation business continued to increase leaps and bounds, and the 27% increase in gaming revenue helped the company record the massive profit figure in Q2 2018

The Playstation division was once again the company’s top performer, carding $4.9bn in sales during the quarter with a $800mn operating profit for the division. This was up around 65% Yoy—causing Sony’s operating profit to jump by 59% as revenue rose 6% to $19.6bn.

In terms of raw sales, Sony has sold over 86mn PS4 units to date thanks to shifting 3.9mn during Q2 itself. While that’s down a little on 4.2mn in 2017, there still remains a strong appetite for AAA games.

High-profile AAA PS4 exclusive title ‘Gold of War’ sold over 3mn copies in its first three days of sale in April, while another AAA blockbuster ‘Spider-Man’ sold over 3.3mn in its first three days last month.

The company’s PlayStation business continues to chart growth. The company’s 86mn PS4 units sold, comes after the last figure that was given all the way back in 2013—of 80mn units. The original Playstation by comparison, managed around 102 mn throughout its entire run.

Outside of gaming, Sony saw big gains in sales within financial services, its second-biggest revenue generator which jumped 27%t, and semiconductors, which were up 11%.

On the other side, losses for its troubled mobile unit widened further, to reach $265mn for the quarter and a 32% YoY decline on mobile revenue.

Sony has remained extremely bullish for the rest of the year that it has raised its full-year operating profit forecast to $7.7bn, and an increase of about 30% percent to the original target. That would represent a record for annual income.

This is partly down to the strong performance of the Playstation, but also due to the impact of its $2.3bn buyout of EMI Music Publishing, as noted by Bloomberg.  Sony previously held a 39.8% percent share in the venture but the deal, which only recently got the regulatory green light in Europe, will affect the value of the original stake,  while adding additional revenue from the business.

The EMI gains are set to represent 55% of the additional revenue Sony is forecasting to hit this financial year.

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