76.5 Million PS4 Shipped by December 31st; Large Boost Announced for PlayStation Revenue and Income
Sony Corporation released its financial results for the third quarter of fiscal year 2017, giving an update on PS4 shipments.
Today Sony disclosed its financial results for the third quarter of fiscal year 2017, related to the period between October 1st and December 31st.
As usual, the announcement included an update on PS4 shipments. 9 million PS4 units reached retailers during the quarter, meaning that the grand total of lifetime shipments was at 76.5 million units by December 31st.
To compare shipments (sell-in) with sell-through (to customers), Sony Interactive Entertainment announced on January 8th that lifetime sell-through was at 73.6 million units.
The company also provided a breakdown of the results of the Games & Network Services business segment, which is the combination of PlayStation and PlayStation Network.
While PS4 shipments were 0.7 million lower than during the equivalent quarter in fiscal year 2016, actual revenue was considerably higher (with a 16.2% growth) due to an increase in software sales, including sales on PlayStation Network.
The increase in sales also caused a significant boost in operating income, from 50 billion yen to a whopping 85 billion yen.
Looking at Sony Corporation as a whole, you can find revenue and income figures below. As you can see, all the relevant numbers are firmly in the black, and significantly improved year-on-year. Oprating income saw just south of a 280% boost.
Last, but not least, Sony announced its forecast for the full fiscal year 2017, which ends on March 31st. The prediction for PS4 shipments remains 19 Million units, which would bring the lifetime total to 79 million units shipped.
While the prediction for hardware unit sales didn’t change, the company did slightly lower the forecast for full-year revenue, citing delays in launch dates of certain software titles, which were likely supposed to ship before March 31st, and will now release afterward, shifting their revenue into the fiscal year 2018. Aggressive promotional prices during the Holidays are also cited as a factor. The operating income forecast remains unchanged from the one shared in October.
“Sales are expected to be lower than the October forecast primarily due to the impact of a change in launch dates of certain software titles, as well as the impact of higher-than-expected sales of hardware at promotional prices during the holiday season. The forecast for operating income remains unchanged primarily due to a reduction in selling, general and administrative expenses, substantially offset by the impact of the above-mentioned decrease in sales.”
Incidentally, current CEO Kazuo Hirai will step down from his position as of April 1st (which will mark the beginning of Fiscal Year 2018) and will be replaced by current Chief Financial Officer Kenichiro Yoshida. Hirai-san announced that he is ready to “embark on a new chapter in his life,” but he will remain as Chairman to “facilitate a smooth transition and ensure future success.” Yoshida-san pledged to build on the business foundations established by Hirai-san and “and execute further reform measures that enhance competitiveness as a global enterprise”
If you want to compare these results with those of the previous quarter, you can check out our dedicated article from October.