PlayStation 4 is hitting new heights, but Sony is still struggling

4.5
Sony’s consistent success with the PlayStation 4 and PlayStation Network has not prevented it from seeing a notable profit decline in the latest quarter.

The corporation recently revealed its financial results, showing a 54.3 percent profit decline for the third quarter of fiscal year 2016/17, compared to the same quarter last year. This translates to the company’s recent $796 million in profits, which is down from 2015’s $1.8 billion in the same three months.

The Game and Network Services division cannot be blamed for this drop off, considering its 5.2 percent year-on-year increase in sales in the last three months of 2016- the best three months the system has ever had. The division’s profits saw a similar trend with a 24.5 percent increase which Sony attributes to “PS4 hardware cost reductions.”

Between October 1st and December 31st of 2016, Sony shipped over 9.7 million PlayStation 4 consoles, compared to the 8.4 million shipped during the same 2015 period. Granted, these figures cover units shipped to retailers rather than sold to customers, but it still suggests a high demand. As for actual sales, Sony confirmed over 6.2 million units were sold over the recent holiday period, bringing worldwide sales since launch to 53.4 million, while total shipped sit at 57.1 million.

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Related Forum: PlayStation Forum

Source: http://www.egmnow.com/articles/news/playstation-4-is-hitting-new-heights-but-sony-is-still-struggling/

Comments

"PlayStation 4 is hitting new heights, but Sony is still struggling" :: Login/Create an Account :: 10 comments

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IlcamorristaPosted:

They'll come back. They always do with hacks ect.

RareparrotPosted:

ps4 for life donald trump has one but never uses it he used it as a decoration D;

LoyaItyPosted:

The loss of profits is terrible for the business. If you look at Microsoft compared to Sony (CURRENTLY) Microsoft is starting to get a comeback with the Xbox and Sony is on a big downhill slope with the PlayStation. I like both consoles but I can see why rather clearly.

Mr_RobotPosted:

Itll be interesting to see how this is going to effect the company

SleepPosted:

They should focus on fixing how slow their console is.

MajPosted:

It's still selling crazy amounts of units so they should do alright

SkatesPosted:

Those are some crazy high numbers.

NickPosted:

They're always struggling, but seem to be handling it well.

SakuPosted:

there doing well anyways

DusknoirPosted:

they still sell millions of consoles they should be doing good rn. plus ps4 is lit it should be next to xbox in sales. ;p