PlayStation Q1 earnings hit $1 billion, best in the history of gaming

Sony just had the best Q1 earnings for any platform in the history of gaming, beating all of Xbox revenue quarters (even holiday).

@DeekeTweak
Published Tue, Aug 4 2020 10:53 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Sony's PlayStation brand made more Q1 revenues than any company in the history of video games.

PlayStation Q1 earnings hit  billion, best in the history of gaming 53 | TweakTown.com
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Today Sony announced its Q1'20 financials and broke a number of records in the process. The PlayStation division made over $1 billion in profits on $5.63 billion in total revenues, becoming the top Q1 earner in the decades-long history of gaming. This is also the first time Sony's gaming branch made over $1 billion in a quarter.

PlayStation pulled in 48% of Sony's total company profits ($2.17 billion) during the period. This is the best operating profit for PlayStation of any quarter ever. PlayStation revenues like software, which spiked tremendously, helped drive Sony's Q1 profits by over 50% year-over-year.

PlayStation's Q1'20 revenues are higher than all of Xbox's historical quarterly gaming earnings, even those in the holiday period, and are a historical high for Q1 PlayStation earnings.

Gaming also accounted for nearly 31% of Sony's total quarterly revenues, up 7 percentage points from Q1'19.

PlayStation Q1 earnings hit $1 billion, best in the history of gaming 1203 | TweakTown.com

Sony Q1'20 Total Earnings

  • Net Sales - $18.3 billion, up 2.2% YoY
  • Operating Profit -$2.12 billion, -1.1% YoY
  • Net Profit - $2.17 billion, up 53.4% YoY

PlayStation (Games & Network Services) Total Earnings

  • Net Sales - $5.63 billion
  • Net Profit - $1.152 billion

Sony owes this massive surge in earnings to digital, which skyrocketed due to COVID-19 lockdowns. Sony's digital game earnings are up 82.7% to $3.67 billion (yes, $3.67 billion in one quarter).

Hardware is down 45% to $945.16 million, and Sony moved 1.9 million PlayStation 4 consoles during Q1'20. The total PS4 cumulative worldwide shipments sit at 112.3 million.

PlayStation Q1 earnings hit $1 billion, best in the history of gaming 54 | TweakTown.com

Sony Games and Network Services Earnings Breakdown

  • Digital Software - $3,670 million, up 82.7% YoY
  • Physical Software - $352 million, up 49.3% YoY
  • Hardware - $517 million, down 45.3% YoY
  • Network Services - $867 million, up 11.6% YoY
  • Other - $230 million, down 20.1% YoY

Sony's total-year forecast for FY2020 will likewise break gaming records. The company expects PlayStation to make $23.4 billion in revenues and $2.24 billion in profits on the backs of continued PlayStation 4 hardware and software sales, and the introduction of its next-gen PlayStation 5 console.

This would be the biggest all-time yearly revenues that any games company has ever earned.

Big thanks to ResetERA's ArmGunar for these data sets.

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NEWS SOURCES:resetera.com, sony.net

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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