Gaming pushes strong Sony Q3 earnings

Sony's Games and Network Services segment propel its third quarter earnings to new heights.

@DeekeTweak
Published Tue, Feb 6 2018 1:12 PM CST   |   Updated Tue, Nov 3 2020 11:52 AM CST

Sony delivers another strong holiday quarter thanks in no small part to the PlayStation brand.

Gaming pushes strong Sony Q3 earnings 700 | TweakTown.com
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Sony Corp's Games and Network Services segment, which includes games and movies sold on the PlayStation Network, PS4 hardware and physical software, as well as subscription services, has pushed the company's quarterly earnings once again. As far as Fiscal Q3'17 numbers the G&NS segment raked in 718 billion yen ($6.35 billion) in sales, up 100 billion yen and 16.3% year-over-year. Operating income sits at 85 billion yen ($752.21 billion), up 35 billion yen and 70% year-over-year.

Gaming pushes strong Sony Q3 earnings 718 | TweakTown.com

But what's most impressive is that Sony's Network segment (digital game sales, subscriptions, streaming, etc) broke 300 billion yen in a single quarter for the first time ever.

Gaming pushes strong Sony Q3 earnings 712 | TweakTown.com

This was likely driven by a strong wave of PS4 hardware sales--console sales are now at 73.6 million worldwide--as well as a big spike in digital sales, not to mention an influx of PlayStation Plus subscribers.

Sony forecasts the gaming segment to rake in 1.940 trillion yen throughout the entire fiscal year, reduced by 60 billion yen due to PlayStation discounts and restructuring. It expects to sell 19 million consoles by March 31, 2018, and the company only needs to sell 2.5 million more units in order to meet that goal.

Gaming pushes strong Sony Q3 earnings 771 | TweakTown.com
NEWS SOURCE:sony.net

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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