PS4 Sales Double Year-Over-Year, Sony Profits Jump

1st May, 0 replies

PlayStation 4, PlayStation Vita, PlayStation 3, PlayStation Portable, Sony Computer Entertainment

Sony has released its earnings result for the last fiscal year, which ended March 31. Revenue for the fiscal year increased 5.8 percent to $68.47 billion. Profits jumped 158.7 percent to $571 million.

Sony's Game and Network Services division's revenue increased 33 percent to $11.57 billion. The division went from a loss of $18.8 million a year ago to profits of $401 million. The jump in sales was due to the success of the PlayStation 4 and PlayStation Plus.

Sony shipped 14.8 million PlayStation 4 consoles worldwide during the quarter to bring lifetime shipments to 22.3 million units. Sales for Sony's handhelds increased thanks to the success of the PlayStation TV. The firm managed to sell 3.3 million handhelds.

Sony expects to ship 16 million PlayStation 4 consoles in the next fiscal year. The company also expects revenue for the Game and Network Services division to be flat year-over-year. However, profits are expected to drop due to lower sales of the PlayStation 3 and the negative impact of foreign exchange rates.

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