PS4 Expected To Have Outsold Lifetime Sales Of PS3 Within Months

Laverne Mann
August 3, 2018

Sony Interactive Entertainment shared the latest of the PlayStation 4's sales performance in its consolidated financial results of three months ended June 30, 2018. Sony also raised its outlook for sales to ¥8.6-trillion from ¥8.3-trillion, citing higher-than-expected videogame sales.

The strong quarter should come as a relief to investors, who were caught flatfooted in April when new CEO Kenichiro Yoshida unveiled a dour full-year forecast, sending shares tumbling.

According to Bloomberg Intelligence analyst Masahiro Wakasugi, even if one were to look past the one-time gains Sony made in the quarter, the company's core business is growing and generating profits. Sony's Playstation division raked in $750 million in profit which was more than twice that any other division could muster.

Annual sales are now projected to rise slightly, with operating profit unchanged.

And it seems to be the popularity of the console which is keeping SONY in the green, as when it released its Q1 results, and showed it had beaten earnings estimates.

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Another thing that Sony has done differently is sell digital copies of its games via the PlayStation Network, which have, in fact beaten profit margins from brick-and-mortar stores.

Sony also reported that God of War and Detroit had exceeded sales expectations and boosted hardware sales, and the hope the forthcoming Spider-Man game will have the same effect. Net profit rose to JPY 174.8 billion, including a JPY 112.8 billion net gain from the Spotify sale, from JPY 62.70 billion in the year-earlier period.

As always, these titles are only free if you have an active PlayStation Plus subscription. Now, in order to keep the good times rolling, Sony is offering a solid selection of titles as free games for PlayStation Plus subscribers during the month of August 2018.

Chips: Operating profit fell 47% to ¥29.1-billion.

Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017.

Other reports by MaliBehiribAe

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