It’s financial report day for a couple of the big gaming firms, starting with PlayStation. Sony had a bit of a rough year, missing profit and revenue targets business-wide. Included in this is not managing to sell as many PS5s as predicted, missing a 14.8 million target with 11.5 million units sold in FY21. PS Plus subscribers also dropped in the January to March quarter, but it wasn’t all bad news.
Sony and analysts say that it’s likely unfulfilled demand, thanks to the difficulty of making anything with a chip in it right now, will bring the console back on target soon. However, with losses across the business, stock value has falled and a repurchase program is being implemented, totalling 2.02% of shares (25 million) over the next year. That’s via Bloomberg who also detail the missed earnings company-wide.
Total PS Plus subscribers now sit around 47.4 million (pretty good at $10 a month, if you ask me). 70.5 million units of software sold during FY 2021, 10 million more than FY 2020, with big gains in first party titles. There are now 19.3 million PS5s in the wild (Sony hoped to hit 22.6 or more) and a ludicrous 117.2 million PS4s, as reported by Gematsu.
Written by Ben Barrett on behalf of GLHF.
