Sony Is Absolutely Flying Financially Right Now

Ex-PlayStation boss Kaz Hirai has long since retired from his role as Sony CEO, but every quarter his work comes into focus a little bit more. For a man who has been memed for the last decade or so, he completely transformed the Japanese firm’s fortunes, and has set it on the positive path it’s currently on. No, it can’t compete with tech giants like Apple and Microsoft, but the days of it bleeding money are long gone.

In fact, for the three-month period ending 30th June, 2024, the company secured its largest Q1 revenue and operating profit ever. Even when you factor in other quarters, such as the incredibly lucrative Q3, this is its sixth best operating profit of all time. In terms of revenue, it raked in $20.61 billion, as the PlayStation division complemented impressive performances from Sony Music Entertainment and its electronics business.

PlayStation, as a whole, pulled in $5.62 billion alone – the biggest Q1 revenue ever for the division – with the PS5 shipping 2.3 million units during the period. While the number of PS Plus subscribers did dip compared to the previous quarter, it’s still up year-over-year, so there’s no real room for panic there. Sony has said that it’s secured the chipsets needed to meet its ambitious PS5 shipment targets, and it’s raised its overall profit forecast for the current fiscal year.