Sony's PlayStation business vaults the company to a $1.5 billion profit in Q2
Sony’s smartphones aren’t doing very well, but the company is still raking in the cash thanks to one big player: gaming. Due to massive revenues brought in by its PlayStation unit, Sony posted a $1.5 billion profit in Q2.
The company’s PlayStation business brought in 27% higher revenue compared to last year, totalling $4.9 billion in sales. Total profit for the PlayStation business hit about $800 million, which is a year-over-year increase of 65%. The PlayStation 4 continues to enjoy massive success this gaming generation; since its release, the console has sold 86 million units, eclipsing the PS3’s 80 million units sold.
The biggest money makers were PS4 exclusives, namely God of War and Spider-Man, both of which sold over 3 million copies within their first 3 days on the market.
Sony’s financial division also posted gains and saw year-over-year revenue increase by 27%. Unfortunately, some of the company’s gains were eroded by its ailing mobile unit, which lost $265 million for the quarter, a year-over-year decline of 32%.
Still, things are looking good for the Japanese giant. The company re-evaluated its full-year profit target, raising it 30% to $7.7 billion (¥870 billion). This would be a record profit for Sony. Great things may be ahead.