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Sony Ships 8.4 Million PS4s In Holiday Quarter
Sony has announced its financial performance for the quarter ending December 31, 2016. The company posted slight revenue gains, but a 33.5 percent jump in profit, showing strength when just two years ago was bathed in red ink.
The gaming business continues to help drive Sony’s success, with gains in sales and operating income. Revenues for the segment increased by 10.5 percent, attributable to 8.4 million PlayStation 4 consoles shipped to retail in the quarter and an increase in PS4 software. Sony announced at the beginning of the month that life-to-date sales have reached 35.9 million.
The company also posted year-over-year gains thanks to a major write-off in the third fiscal quarter of last year. That was due to flagging sales of Vita and PlayStation TV.
Sony does not mention PlayStation 3 and Vita shipments in its documentation. However, the company notes that the previous cycle continues to dwindle as PS3 hardware and software sales continue to fall.
Sony announced a major move this week to unify and relocate its gaming and network businesses. The new unit, Sony Interactive Entertainment, will be located in California with official incorporation scheduled for April 1 (coinciding with the start of Sony’s next fiscal year).
[Source: Sony]
Our Take
PlayStation 4 continues to be a juggernaut, helping to drag Sony from the operating losses back into the black. The platform has enormous momentum, but Sony can’t rest on its laurels. Last year’s software lineup was wanting. This year can’t be as flimsy.
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