Sales of PlayStation 5 consoles grew compared to a year ago, but profits declined.
Sony saw its profit dip 31% in the first fiscal quarter ended June 30, but it’s game business continues to thrive. Sales of PlayStation 5 consoles grew compared to a year ago, but profits declined.
Solid performance in games led to a 33% increase in quarterly revenue to $20.7 billion compared to a year ago. Operating profit was 253 billion yen, down 31% but about the same as analysts expected.
Sales in games and network services were 771.9 billion yen, up 167.8% from the same quarter a year ago. Operating income was narrower at 49.2 billion yen, down 3.6% from a year ago. Sony increased its games and network services forecast for the fiscal year to 4.17 trillion yen, up from its previous forecast of 3.
