Sony aims to sell 18 million PlayStation 5 consoles in the fiscal year ending in March 2023.
Thiago Prudencio Lightrocket | Getty Images
sony The all-important December quarter posted record quarterly profits that included the holiday season thanks to growth in its PlayStation gaming business and financial services unit.
Sony beat analyst expectations by a wide margin in its fiscal third quarter.
However, the Japanese tech giant lowered its sales forecast for the gaming division for its full fiscal year, citing weak hardware sales.
Here’s how Sony did in the December quarter compared to LSEG consensus estimates:
- Income: 3.75 trillion Japanese yen ($24.9 billion) vs. 3.58 trillion yen expected
- Operating profit: 428.4 billion yen compared to 463.3 billion yen expected
Sony’s gaming business has remained strong, as consumers continue to buy the flagship PlayStation 5 console. Sony sold 8.2 million units of its flagship PlayStation 5 console in its fiscal third quarter, which runs from October to December.
The company has previously said it is targeting sales of 25 million PS5 units in the fiscal year ending in March.
Sales at Sony’s gaming business rose 16 percent year-over-year to 1.4 trillion yen in the December quarter. However, operating profit in the division fell 26 percent, due to increased hardware losses in the period due to lower sales of promotions and first-party games.
Sony also cut its fiscal year sales forecast for the gaming division by 210 billion yen to 4.15 trillion yen, saying it expects a decline in hardware sales.
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