Sony Q1 revenue up 33% YoY to ~$20.7B, PS5 sales up 38% YoY to 3.3M, raises sales forecasts for the full year + more good news for Sony

Here’s how Sony did in the June quarter versus Refinitiv consensus estimates:

• Revenue: 3 trillion Japanese yen ($20.7 billion) versus 2.46 trillion yen expected. That represents a 33% year-on-year rise.
• Operating profit: 253 billion Japanese yen versus 251.24 billion yen expected. That marks a 31% year-on-year fall.

Sony raised its revenue forecast for the full year by 6% to 12.2 trillion yen, thanks to strength in its PlayStation gaming unit.

Sony made a 7% upward revision to its sales forecast for games and network services to 4.2 trillion yen.

Sony is so far winning the latest round of the console wars — by a substantial margin.

Sony PlayStation FY23 Q1 Earnings

• Net Sales: $4.91B +28% YoY Operating Income: $313.3m -7% YoY
• Shipped 3.3m PS5 (+0.9m YoY); 41.7m LTD
• Shipped 56.5m software, of which 6.6m 1P (+8.4m YoY, 1P sales flat)

Xbox Q4

• Xbox hardware -13%
• Content/services +5%
• Total gaming revenue +1%

PlayStation Q1

• PS hardware +35%
• Network Services +17%
• Total gaming revenue +33%

In other news, Crunchyroll passed 12 million paying subscribers

• Feb 2017: 1 million subs
• Oct 2018: 2 million subs
• July 2020: 3 million subs
• Feb 2021: 4 million subs
• Aug 2021: 5 million subs
• Feb 2023: 10 million subs
• May 2023: 11 million subs
• July 2023: 12 million subs

NCLT greenlights Zee-Sony merger, paves way for $10 bn media giant creation – The order by NCLT's Mumbai bench will pave the way for the creation of the biggest in the country.