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Sony has improved its earnings outlook, thanks in large part to the success of its PlayStation business. The company raised its earnings outlook for the current fiscal year to 870 billion yen ($ 7.72 billion), an increase from the previous forecast of 670 billion yen ($ 5.9 billion). He also raised his revenue forecast from 8.6 billion yen to 8.7 billion yen.
Bloomberg says the revised forecasts are largely a result of the PlayStation division's success. Between the record-breaking success of Spider-Man and several third-party games, the PS4 is helping to stabilize the company while its smartphone business is facing uncertainty. This comes just after Sony has already announced its forecast in July because of the success of God of War.
Analysts predict that third-party game sales such as Red Dead Redemption 2 and Call of Duty: Black Ops 4 will also help strengthen it. Rockstar sales figures, announced today, suggest that Red Dead 2 is the expected success. Fortnite also helped boost the brand, as spending on in-game items grew over the summer, as kids returned from school, and these revenues are shared with Sony.
Damian Thong, a Macquarie Group analyst, said it would be "the best year for PlayStation for first-round games and the overall profitability of the platform."
Sales of games and network services grew 116.9 billion yen ($ 1 billion). In total, the company now had 34.3 million PlayStation Plus users by the end of the quarter on September 30th. last year and sales for the September quarter rose 27%. The PlayStation is not the only element of the business to help Sony's bottom line, though. About half of this increase is due to Sony's acquisition of EMI Music Publishing.
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