Sony’s gaming business had a blockbuster holiday quarter as it sold 7.1 million PS5s from October to December compared to 3.9 million in the same quarter last year. That’s a whopping 82 percent increase, so the company’s supply issues appear to be largely solved — much as the company has said as of late. In other words, you should be able to buy a PS5 now with little to no delay.
All of that resulted in a giant boost in revenue, as its Game & Network Services segment took in 1.25 trillion yen ($9.7 billion), up 53 percent year on year. That includes over double the revenue for hardware and healthy boosts in software (30 percent), network services (20 percent) and others including PSVR and first-party software sales on other platforms (73 percent).
To grasp the significance of all this, Sony has now sold 32.1 million PS5s compared to 25 million in November 2022, so total unit sales increased 28 percent in just a single quarter. It also means that Sony may hit its fiscal year 2022 PS5 sales forecast (18 million units from March 2022 to March 2023) if it can ship 5.2 million consoles, something that seemed wildly optimistic last quarter. If it does reach that goal, it will hit PS5 sales of over 37 million units.
Sony has fought Microsoft’s acquisition of Activision, though Microsoft itself recently pointed out that Sony has five times more exclusive games than Xbox. In terms of first-party titles, God of War Ragnarök and Ghost of Tsushima Director’s Cut were standouts on PS5 this quarter.
Sony’s gaming business dwarfed its other segments, though its imaging sensor business continues to rise as well, with sales up 63 percent year on year to 417 billion yen ($3.24 billion). Sony supplies the lion’s share of camera sensors to both smartphone and mirrorless camera manufacturers.