• Light/Dark
  • Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.
  • We have made minor adjustments to how the search bar works on ResetEra. You can read about the changes here.

Sony FY22 Q2 Financial Results! Record Breaking Q2 Revenue, 3.3M PS5 shipped!

ChaosSlayer

ChaosSlayer

Member
Jul 16, 2021
816
* US Dollar figures have been converted from Japanese Yen using the Average Exchange Rates provided by Sony in their Earning Releases.
** YoY/QoQ growth is calculated using the original Japanese Yen results.
*** To ensure consistency and avoid confusion, comparisons will be done using the Japanese Yen. Deep Dive analysis will use the US Dollar.
Data Source

Since ArmGunar has (seemingly) left the forum, I was inspired to take keep his tradition alive and make a Sony Financial Results thread.
The thread won't probably be as extensive as his, but I will do my best to expand upon it in the future!
If there are mistakes or if you have any suggestions, please let me know!
This is a work in progress, so the thread will be updated.



Sony_logo.svg



Sony Group Corporation - FY22 Q2 (July - September 2022) Financial Results:​

tC8XU8v.png



Revenue: ¥2,751.9B/$19.91B (+16.14% YoY from ¥2369.4B/$21.52B in FY21 Q2)
Operating Income: ¥344B/$2.49B (+8.01% YoY from ¥318.5B/$2.89B - in FY21 Q2)
Net Income : ¥264B/$1.91B (+23.89% YoY from ¥213.1B/$1.94B - in FY21 Q2)


5sX2bDB.png




bJyw7qj.jpg


Game & Network Services (Playstation) FY22 Q2 Financial Results (July-September 2022):
X1joYnZ.png

Gaming & Network Services (PlayStation) Revenue: ¥720.7B/$5.21B (+11.7% YoY from ¥645.4B/$5.86B in FY21 Q2)
Gaming & Network Services (PlayStation) Operating Profit: ¥42.1B/$0.305B (-49.1% YoY from ¥82.7B/$0.751B in FY21 Q2)
  • Biggest Q2 Revenue ever for PlayStation (and for any platform holder)
6JDsvwN.png

Here's a breakdown of PlayStation sales per segment in the last 5 FYs and the share of each segment in this Quarter.


nvb0nDY.png
6qxflpv.png


PlayStation Revenue, Trailing 12 Months

SIE maintained a stable revenue despite the PS5 Shortage and economic headwinds. The 12 months Trailing Revenue is slightly below the all-time record.

gO5Da8z.png




Hardware:
3.3M PS5s shipped last quarter (Vs 4M PS4s in FY15 Q2)

  • Flat YoY (3.3M units in Q2 FY21)
  • Shipments grew by 37.5% QoQ (2.4M units in Q1 FY22)
  • 5.7M PS5s shipped this FY, far behind Sony's target for the Fiscal Year (18M consoles)
  • 25M PS5s shipped LTD (Vs 29.3M PS4s in the same timeframe)
Launch aligned, PS5 is currently lagging behind PS4 by units 4.3M units.
KsPsrtm.png

Software:
62.5M Full PS4/PS5 Games sold, a significant 18.19% decrease YoY (Down from 76.4M in FY21 Q2). Full Games Software unit sales increased 32.42% QoQ.
  • Digital Games accounted for 63% of full games sales in FY22 Q2 (flat YoY, 62% in FY21 Q2)
  • 6.7M First Party Games were sold (down from 7.6M in FY21 Q2), accounting for 10.72% of the total Games sold in FY22 Q2 (Up from 9.95% in FY21 Q2)
Here's a breakdown of the PS4/PS5 Full Games Sold highlighting the Physical/Digital Split.
This is the 11th quarter in a row where Digital outsold Physical.

fFJraVv.png


Here's the distribution of 1st and 3rd party games sold on PlayStation!
uMddNFF.png


The following graph showcase the Average Price of a Full Game purchased from the PS Store.
nKM57e4.png


Network Services and PlayStation Plus:

PlayStation Plus had 45.4M subscribers
  • a 3.81% YoY decrease (Down from 47,2M in FY21)
  • a 4% YoY decrease (Down from 47,3M in Q1 FY22)
Even with PS Plus subscribers' count decrease, the Network Services segment achieved ¥117.01B record Sales in Q2 and in any quarter!
The growth is probably driven by the Service Revamp and Exchange Rates
zgyO5aW.png
 
Last edited:
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
Great OP! Yeah it definitely seems like they're spending quite a bit and that the exchange rates are really eating at their profits. Excellent revenue but the gaming industry really needs to get some software out there, seems like the pandemic boom is really leveling off
 
Gavalanche

Gavalanche

Prophet of Regret
Member
Oct 21, 2021
17,448
Biggest Q2 in revenue for any platform holder is nuts, especially at this time.
 
AEF1907

AEF1907

Member
Dec 18, 2021
4,015
Hm they sold 5.7m PS5 in Q1+Q2, they need to sell over 12m units in Q3+Q4 to reach their target of 18m PS5 for this year.
 
Jarod McChicken

Jarod McChicken

Member
Oct 27, 2017
2,073
One of the most interesting data is the fact the PS+ suscribers are lower (45,4 million vs 47,2 million) but the network services sales are higher (117 billion yen vs 100 billion yen). This suggest the launch of Extra/Premium make it for the loss of members (for now).
 

Mung

Member
Nov 2, 2017
3,434
Will be interesting to see if they can hit the target. Sounds like production has ramped up quite a bit recently.

25 million PS5s means that it has outsold the original xbox and the gamecube now.
 
Last edited:
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
Jarod McChicken said:
One of the most interesting data is the fact the PS+ suscribers are lower (45,4 million vs 47,2 million) but the network services sales are higher (117 billion yen vs 100 billion yen). This suggest the launch of Extra/Premium make it for the loss of members (for now).
Click to expand...
Click to shrink...

Yeah part of that is probably the exchange rates helping out the revenue stream, but it's clear that Extra and Premium are at least pulling in a decent bit more money for them than plus was by itself. The decrease in subs is likely due to the non-extra members pulling out for a bit because there haven't been many big multiplayer games released and there are plenty of free to plays, also engagement hours seem down across the board in the industry. We'll see if games like MW2 and the holiday season can make the subscriber numbers rebound.
 

reksveks

Member
May 17, 2022
3,281
Ariakon44 said:
Great OP! Yeah it definitely seems like they're spending quite a bit and that the exchange rates are really eating at their profits. Excellent revenue but the gaming industry really needs to get some software out there, seems like the pandemic boom is really leveling off
Click to expand...
Click to shrink...
Whilst fx is eating at their profits, it's also boosting revenue.

I think it's good numbers in general, fx impact is a very important factor to try and account for. Software revenue and engagement is looking weak at the moment.

Fortunately for them and MS, both Fifa and COD are doing well.
 
vivftp

vivftp

Member
Oct 29, 2017
19,760
AEF1907 said:
Hm they sold 5.7m PS5 in Q1+Q2, they need to sell over 12m units in Q3+Q4 to reach their target of 18m PS5 for this year.
Click to expand...
Click to shrink...

No doubt they've got a BUTTLOAD of PS5's ready to move this holiday on the back of God of War and other notable releases like CoD.

If the rumored 30.5 million PS5's next FY is accurate then maybe it's a gradual ramp up as we move from a supply constrained period to a "let's make as many consoles as Humanly possible" period.
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
reksveks said:
Whilst fx is eating at their profits, it's also boosting revenue.

I think it's good numbers in general, fx impact is a very important factor to try and account for. Software revenue and engagement is looking weak at the moment.

Fortunately for them and MS, both Fifa and COD are doing well.
Click to expand...
Click to shrink...

Absolutely. And as you said, Fifa and COD seem very strong this year, which should help their Q3 software numbers. Like you said (and MS also stated in their report) engagement hours have been pretty rough these last few quarters. Could just be a wind down from the pandemic finally settling in, though I think a weak release schedule from April-September certainly exacerbated things
 
Qvoth

Qvoth

Member
Oct 26, 2017
11,889
what happened to the usual person that does these sony report threads?
forgot the name but pretty sure the avatar is different from OP so ima assume it's not the same person

edit: oh it's stated he might've left
 
SilentEagle

SilentEagle

Member
Jan 9, 2021
5,649
PS5 is selling really well like the previous generations. Wouldn't be surprised if it surpasses PS2's record if they can solve the stock problem.
 
Random Character

Random Character

Member
Nov 21, 2017
4,670
Ariakon44 said:
Absolutely. And as you said, Fifa and COD seem very strong this year, which should help their Q3 software numbers. Like you said (and MS also stated in their report) engagement hours have been pretty rough these last few quarters. Could just be a wind down from the pandemic finally settling in, though I think a weak release schedule from April-September certainly exacerbated things
Click to expand...
Click to shrink...

Fifa will like stay strong this holiday too especially with the World Cup.
 
modiz

modiz

Member
Oct 8, 2018
17,836
Big claims in Sony's financial call, despite PS5 shipments roughly matching the previous year so far, Sony says this is actually above their own expectations, as supply chain limitations lessened substantially, so now they expect to exceed their original 18 million shipment target.

They also said Spider-Man Remastered is the fastest selling PC game by Sony
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
modiz said:
Big claims in Sony's financial call, despite PS5 shipments roughly matching the previous year so far, Sony says this is actually above their own expectations, as supply chain limitations lessened substantially, so now they expect to exceed their original 18 million shipment target.

They also said Spider-Man Remastered is the fastest selling PC game by Sony
Click to expand...
Click to shrink...

That is...unexpected. To be fair, there do seem to be a LOT of MW2 bundles available in the US, and they are the new model. Will be interesting to see just how many GoW Ragnarok bundles go out there.
 
modiz

modiz

Member
Oct 8, 2018
17,836
Ariakon44 said:
That is...unexpected. To be fair, there do seem to be a LOT of MW2 bundles available in the US, and they are the new model. Will be interesting to see just how many GoW Ragnarok bundles go out there.
Click to expand...
Click to shrink...
They have produced 3 million additional PS5s in Q2 that they haven't shipped. Seems that shipment target was a choice, rather than all they could have done
 
AEF1907

AEF1907

Member
Dec 18, 2021
4,015
modiz said:
Big claims in Sony's financial call, despite PS5 shipments roughly matching the previous year so far, Sony says this is actually above their own expectations, as supply chain limitations lessened substantially, so now they expect to exceed their original 18 million shipment target.

They also said Spider-Man Remastered is the fastest selling PC game by Sony
Click to expand...
Click to shrink...

Ok that's crazy.
 
kowalski

kowalski

Member
Oct 27, 2017
2,512
Hmmm, so they need to ship 12 million in the next 2 quarters.
It's not easy but we'll see.
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
modiz said:
They have produced 3 million additional PS5s in Q2 that they haven't shipped.
Click to expand...
Click to shrink...

Smart, last year it was clear they were trying to address the holidays in the same way they had the previous quarters instead of stockpiling for November-December, now there should be actual Christmas stock for people to buy.
 
Tmespe

Tmespe

Member
Oct 27, 2017
2,452
Man, use some of those billions to beef up your graphs. It's hilarious to me that these huge corporations use a basic ass excel graph with no thoughts to the presentation for basically some of the most important information they give out.
 
vivftp

vivftp

Member
Oct 29, 2017
19,760
SilentEagle said:
PS5 is selling really well like the previous generations. Wouldn't be surprised if it surpasses PS2's record if they can solve the stock problem.
Click to expand...
Click to shrink...

It's selling ok enough, but is currently trending behind the PS4 when launch aligned due to component shortages having been an issue throughout the pandemic. Sony has said that they expect the PS5 to surpass the PS4 sales curve during the next fiscal year (April 1, 2023 to March 31, 2024), which would mean they'd have to produce over 23 million PS5's next FY. Tom Henderson has claimed that Sony actually plans to produce 30.5 million PS5's next FY.

The PS2 would be extremely hard to match, but if Sony is really aiming to flood the market to compensate for the shortfalls that occurred due to component shortages then I wonder just how far they may go and for how long. The rumored 30.5 million figure is ludicrously huge, and it'll be several months before we officially learn if that's what they plan to do or not.

If this gen does wind up going longer (ie. up to 2028), and if there is a mid-gen PS5 Pro, then I think they could get into the general ballpark of the PS2. The PS5 just has so much momentum behind it.
 
vivftp

vivftp

Member
Oct 29, 2017
19,760
modiz said:
They have produced 3 million additional PS5s in Q2 that they haven't shipped. Seems that shipment target was a choice, rather than all they could have done
Click to expand...
Click to shrink...

Yeah, I thought I saw 6.5 million PS5's produced this quarter. I wonder how many God of War bundles are out there, waiting to be sold.
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
Qvoth said:
guessing they will revise the target?
Click to expand...
Click to shrink...

They actually said they plan to exceed it, seems they are stockpiling 3 million consoles for the holidays


VX1 said:
www.reuters.com

Sony hikes FY profit forecast by 4.5% on foreign exchange boost

Sony Group Corp hiked its full-year operating profit forecast on Tuesday by 4.5% to 1.16 trillion yen ($7.84 billion) as the boost from foreign exchange fluctuations at units including the music business offset gaming weakness.
www.reuters.com www.reuters.com
Click to expand...
Click to shrink...

Reuters actually revised that title into a negative one lol. It was something like "Sony beats estimates with 8% rise in profits" before. Outside of gaming profits, the quarter was quite a good one for the company

Spark said:
A much more pessimistic heading compared to the thread title.
Click to expand...
Click to shrink...

It was actually a pretty positive heading (for the company as a whole) until they changed it, talking about how it beat expectations. I dunno why they revised it, since the profit hit was released along with all the other numbers at first. Thing is, both claims are true. They did have a record quarter in revenue and profits did take a big hit, and partly for the same reason in the foreign exchange rates. The company itself had a great quarter though.
 
Last edited:
MrTired

MrTired

Member
Oct 28, 2017
3,230
Qvoth said:
guessing they will revise the target?
Click to expand...
Click to shrink...
Yes there expecting to exceed it. Crazy.

modiz said:
Big claims in Sony's financial call, despite PS5 shipments roughly matching the previous year so far, Sony says this is actually above their own expectations, as supply chain limitations lessened substantially, so now they expect to exceed their original 18 million shipment target.

They also said Spider-Man Remastered is the fastest selling PC game by Sony
Click to expand...
Click to shrink...

modiz said:
They have produced 3 million additional PS5s in Q2 that they haven't shipped. Seems that shipment target was a choice, rather than all they could have done
Click to expand...
Click to shrink...
 
mockingbird

mockingbird

One Winged Slayer
Member
Oct 27, 2017
2,575
PS5s are still not sitting in stores. I've seen some photos online of wal-marts having ps5s sitting on the shelves but I've never seen that in Los Angeles.
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
mockingbird said:
PS5s are still not sitting in stores. I've seen some photos online of wal-marts having ps5s sitting on the shelves but I've never seen that in Los Angeles.
Click to expand...
Click to shrink...

I haven't seen a single one in Northern VA. We have plenty of the other systems, but even a Best Buy employee asked me if I actually owned a ps5 when I went to pick up Valkyrie Elysium a few weeks ago since he wasn't certain they exist in reality.
 
vivftp

vivftp

Member
Oct 29, 2017
19,760
Damn, so exceeding the 18 million figure eh. Makes me think that 30.5 million figure rumored for next FY might not be so outlandish if they're already this confident in things.
 
vivftp

vivftp

Member
Oct 29, 2017
19,760
Just think, if the Tom Henderson rumor is true then over the next 18 months we could potentially see more than 42.8 million PS5's shipped in that period of time.
 
Poimandres

Poimandres

Member
Oct 26, 2017
6,867
vivftp said:
Damn, so exceeding the 18 million figure eh. Makes me think that 30.5 million figure rumored for next FY might not be so outlandish if they're already this confident in things.
Click to expand...
Click to shrink...

The difference between 18 million and 30 million is... large. I don't think they can sell 30 mill but hey go ahead and prove me wrong Sony!
 
Ariakon44

Ariakon44

Prophet of Truth
Member
Nov 17, 2020
10,184
Poimandres said:
The difference between 18 million and 30 million is... large. I don't think they can sell 30 mill but hey go ahead and prove me wrong Sony!
Click to expand...
Click to shrink...

Yeah, I'll believe it when I see it as well. 30 million is basically what the Switch did at the height of the Pandemic gaming boom (and not quite, even). That would be a bonkers number when the global economy is likely to go into a recession (though I think they may mean 30 million manufactured instead of 30 million shipped).
 
You must log in or register to reply here.