Sony Interactive Entertainment shared the latest of the PlayStation 4's sales performance in its consolidated financial results of three months ended June 30, 2018. Sony also has an exclusive Spider-Man game coming out in September, which is expected to do well.
This is stark contrast to April this year, when the company's Chief Executive Officer Kenichiro Yoshida gave a rather pessimistic forecast for the full year, which sent Sony's shares plunging.
According to Bloomberg Intelligence analyst Masahiro Wakasugi, even if one were to look past the one-time gains Sony made in the quarter, the company's core business is growing and generating profits. No longer aiming for exotic and most important, expensive hardware, the PS4 was notably built around well-known PC architecture, making the lives of game developers easier while saving precious funding for Research & Development.
Sony's semiconductor division, which includes imaging sensors, posted profit of JPY 29.1 billion, down from JPY 55.4 billion a year earlier when earnings were boosted by the camera module business sale and insurance payouts. Sony hasn't said if or when it could sell its remaining holding.
PS4 software sales have proven to be a boon this quarter, with first-party titles like God of War, and some third-party titles "significantly exceeding expectations".
Oil prices rise on tighter supply outlook
Saudi production increased but was offset by a decline in Iranian supply due to the restart of USA sanctions, the survey found. On Tuesday, U.S. crude was down more than $1 a barrel to about $69, on pace for a roughly 7 percent decline this month.
The free PlayStation Plus games for August 2018 will arrive on Aug. 7, so don't forget to download this month's games before then.
Revenue rose 5.1% to ¥1.95-trillion, topping the forecast for ¥1.87-trillion. Right now, PlayStation Plus subscribers is holding steady with 33.9 million users.
For the fiscal year ending March 31, 2019, the company now expects Sales and operating revenues to be 8.60 trillion yen, compared to the prior outlook of 8.30 trillion yen. Cooling demand for smartphones was the primary driver in Sony's weaker-than-expected full-year forecast in April.
Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017.