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.

Posted: Feb 04, 2017 8:49 pm
Related Forum: PlayStation Forum

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