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Sony's PlayStation business vaults the company to a $1.5 billion profit in Q2

Image via Sony
Image via Sony
Despite continued losses in its mobile division, Sony enjoyed a massive $1.5 billion profit in Q2, thanks in large part to the success of the PlayStation 4. A mixture of excellent exclusive titles and strong console sales racked up $4.9 billion in sales, cementing a solid profit in spite of a $265 million loss in the company's smartphone division.

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.


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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2018 10 > Sony's PlayStation business vaults the company to a $1.5 billion profit in Q2
Sam Medley, 2018-10-31 (Update: 2018-10-31)