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SIE FY23: Revenue ($29.6 billion, up 17%), operating income ($2 billion, up 16%), software sales ($14.1 billion, up 24%), Hardware (20.8M up 8.9%)

Smitch

Smitch

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www.gamesindustry.biz

PlayStation full-year revenues rise to $27.5 billion but narrowly misses PS5 sales target

Sony has released its full-year financial results, showing a solid twelve months for its PlayStation business ahead of …
www.gamesindustry.biz www.gamesindustry.biz

The numbers


Full-year (12 months ended March 31, 2024)
  • Game & Network Services net sales: ¥4.3 trillion ($27.5 billion, up 17%)
  • Game & Network Services operating income: ¥290.2 billion ($1.9 billion, up 16%)

Q4 (3 months ended March 31, 2024)
  • Game & Network Services net sales: ¥1.1 trillion ($7.03 billion, up 2.2%)
  • Game & Network Services operating income: ¥135.8 billion ($868 million, up 172.5%)

The highlights


Breaking down the full-year results for its G&NS division, Sony reported software sales of ¥2.2 trillion ($14.1 billion, up 24% year-on-year), of which digital software and add-ons accounted for ¥1.9 trillion ($12.1 billion, up 27%).

The platform holder said 286.4 million games were sold for PS5 during the course of the year, of which 39.7 million were first-party titles. By comparison, the previous fiscal year saw 264.2 million games sold, of which 43.5 million were first-party.
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Hardware revenues saw a 9% boost at ¥1.7 trillion ($10.9 billion), which there was decent growth in revenue from network services — including PlayStation Plus — at ¥545.5 billion ($3.5 million, up 17%).

There were 118 million active PSN users at the end of Q4 (three months ended March 31, 2024) — down from the 123 million reported at the end of Q3 but up from 108 million marked at the same time last year.
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PlayStation's forecast for the new financial year reaffirmed the company's previously stated expectation of a decrease in hardware sales, but this will also deliver a decrease in hardware losses.

The platform holder expects an increase in non-first-party sales and a decrease in first-party, due in no small part to the fact there will be no new entries from PlayStation's blockbuster franchises until the following fiscal year.

The forecast also predicts an increase in sales from network services, mainly PlayStation Plus as Sony grows its subscription service.
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The forecast


FY24 (12 months ended March 31, 2025)
  • Game & Network Services net sales: ¥4.2 trillion ($26.8 billion, down 1.5%)
  • Game & Network Services operating income: ¥310 billion ($2 billion, up 6.8%)
EDIT:

View: https://twitter.com/DomsPlaying/status/1790328335886651693

View: https://twitter.com/DomsPlaying/status/1790333470587191769
 
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Granjinhaa

Granjinhaa

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Dec 28, 2023
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i thought they would have an increase in HW sales (and their outlook) thanks to the PS5 Pro. Anyway, fantastic results all around.
 
Super

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Jan 29, 2022
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Yeah people focus on the Q4 comparison year on year decline but the whole FY shows hardware being up 8.9%. A strong year for Sony but they will have challenges with the price this FY I feel.
 
gundamkyoukai

gundamkyoukai

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Oct 25, 2017
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Super said:
Yeah people focus on the Q4 comparison year on year decline but the whole FY shows hardware being up 8.9%. A strong year for Sony but they will have challenges with the price this FY I feel.
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Yeah they really need a price cut .
The fact that the console doing this well still without one ( after they raise price lol ) is impressive .
 
CubeApple76

CubeApple76

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Jan 20, 2021
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A ton of those gains are 4X driven, says it right in the report. Sony are in the fortuitous position of being a Japanese company that does it's business primarily in exports, and the yen being in the shitter actually helps their earnings a lot.
 
platocplx

platocplx

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Oct 30, 2017
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Super said:
Yeah people focus on the Q4 comparison year on year decline but the whole FY shows hardware being up 8.9%. A strong year for Sony but they will have challenges with the price this FY I feel.
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Yeah prob will see a holiday discount maybe or they keep prices the same. If they are forecasting 14% less than this years results might say they are okay with that since Hardware revenue can stay at their prices atm.
 
Xeonidus

Xeonidus

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Oct 28, 2017
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I'm surprised Sony managed to stay ahead of the combined Acti-Blizzard and Xbox in terms of revenue. I thought they would knock PlayStation down a bit. PlayStation still ahead at least for now.
 
BassForever

BassForever

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Yuntu said:
So why did they fire people again?
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If I said I was gonna give you 25 million dollars, then I pivoted to say "uhh actually only 21 million", and then I gave you 20.8 million, you'd probably be pretty annoyed. 20.8 million is still a lot of money, but if you planned your year based upon getting 25 million, your gonna have to make some cuts. It's not about making money, it's about making ALL of the money.
 
jroc74

jroc74

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Oct 27, 2017
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Nephilim said:
What about the MARGINS?
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But yeah, some good results all around.
 
Celestial Descend

Celestial Descend

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Aug 15, 2022
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Am I drunk or this is all pretty good numbers? When the layoff news and the leak was going on, I was under the impression that SIE's finance was in some sort of crisis.
 
Copilot

Copilot

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Jun 27, 2023
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Almost half of Playstation FY profit was made on 4th quarter. Should be mainly driven by Helldivers 2.
 

gamewhoopr

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Dec 10, 2018
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Celestial Descend said:
Am I drunk or this is all pretty good numbers? When the layoff news and the leak was going on, I was under the impression that SIE's finance was in some sort of crisis.
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PS5 numbers have never been anywhere near dire, but they're trending behind PS4 and profit margins haven't been great. Sony originally expected to sell 25 million PS5s in the last year. That was then revised down to 21 million, which they still missed. Numbers on the whole are good, but people may have to look at other factors to paint the whole picture.

For example, the sales numbers are great considering there's been no official price drop across the board. But then we have to look at… why hasn't there been a price drop? That's largely due to thin profit margins, which is due to ballooning licensing, development costs, etc.
 
Shairi

Shairi

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Aug 27, 2018
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Yuntu said:
So why did they fire people again?
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Short-sighted cost cutting measures to increase overall profitability in the short term.

It's stupid.

SIE needs more devs, not less. Everytime they have a down Quarter, it's usually because of the lack of major first party releases. So they actually need to increase the development capacity and not do the opposite for short-term gains.
 
Damien1990

Damien1990

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May 23, 2020
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Johnny Blaze said:
Are there any Ps Plus extra/premium sub numbers?
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Last update was 47.4M for all of PS+ subscribers at end of March 2023. They stated they're not reporting numbers since then but given the numbers have hovered around 45-48M since 2020 they're probably still around that figure. Extra (6.1M) and Premium (8M) subs were around 30% of that 47.4M back in early 2023.
 
behOemoth

behOemoth

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Oct 27, 2017
5,855
Shairi said:
Short-sighted cost cutting measures to increase overall profitability in the short term.

It's stupid.

SIE needs more devs, not less. Everytime they have a down Quarter, it's usually because of the lack of major first party releases. So they actually need to increase the development capacity and not do the opposite for short-term gains.
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that's the main reason for having 300+ studios though. there is also a truth to games being way too overambitious, especially at Sony.
 
EagleClaw

EagleClaw

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Dec 31, 2018
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... Sony reported software sales of ¥2.2 trillion ($14.1 billion, up 24% year-on-year), of which digital software and add-ons accounted for ¥1.9 trillion ($12.1 billion, up 27%).
The platform holder said 286.4 million games were sold for PS5 during the course of the year, of which 39.7 million were first-party titles. ...
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I don't see day and date SIE blockbuster releases on Steam or other consoles looking at the importance of their digital store ecosystem.
Of course the strategy for GAAS day and date multiplatform releases is set.
 
Aleh

Aleh

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Oct 27, 2017
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It would be great if they could achieve these results without firing a bunch of people.
 
Poldino

Poldino

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Oct 27, 2020
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Great numbers overall, pretty crazy to see PS5 selling almost 21 million in the FY while the price is still that high (not only there hasn't been a pricecut, but the actual price remains even higher than launch lol)
 

TGB86

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Jan 27, 2021
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