Sony's net profit in the first fiscal quarter of 2024 reached 231.638 billion yen, a year-on-year increase of 6.5%, and cumulative PS5 sales reached 61 million units

1. According to station news on August 7, today Sony announced its results for the first fiscal quarter of fiscal year 2024 as of June 30. Operating profit for the quarter increased by 10% year-on-year, exceeding analyst expectations. The main benefit due to the strong performance of its industry-leading image sensor business.

2. The company’s revenue in the first fiscal quarter was 3.01 trillion yen, a year-on-year increase of 2%, higher than market expectations of 2.8 trillion yen. Operating profit reached 279.11 billion yen, a year-on-year increase of 10%, higher than market expectations of 275.35 billion yen. Net profit reached 231.638 billion yen, a year-on-year increase of 6.5%.
3. Affected by foreign exchange rates and sales growth, Profits from Sony’s image sensor business roughly tripled
year-on-year in the fiscal quarter to 36.6 billion yen.
4. Sony Corporation expects full-year operating profit to increase to 1.31 trillion yen, compared with the previous forecast of 1.28 trillion yen.
5. Sony said that the cumulative sales of PlayStation 5 (PS5)
have exceeded 61 million units. Although PS5 sales fell to 2.4 million units this fiscal quarter from the same period last year, the overall gaming business performed strongly. Financial report data shows that Sony’s game and network services division’s revenue in the first fiscal quarter increased by 12% year-on-year, and operating profit increased significantly by 32%, reaching 65.2 billion yen. Sony stated that the revenue growth was mainly due to exchange rate changes, increased sales of first-party game software, and increased revenue from network services such as PlayStation Plus. Sony revised its forecast for its gaming unit for fiscal 2024 (April 2024 to March 2025), raising its revenue and operating profit forecasts by 3%, based on fiscal first-quarter data.
6. This site noticed that Sony’s performance in the just-concluded fiscal year 2023 was not ideal, with operating profit falling 7% year-on-year, mainly dragged down by the financial services business. In addition, Sony's PlayStation 5
full-year sales in 2023 were also lower than expected, at 20.8 million units, below the previously revised target of 21 million units (the original target was 25 million units). Sony said in May it expected to sell 18 million PS5 units this fiscal year, down from 20.8 million units last year.

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