PS4 Success From Spider-Man And Fortnite Raises Sony's Financial Outlook

Your friendly neighborhood Spider-Man helped Sony in a pinch.

13 Comments

Sony has raised its earnings outlook, thanks largely to the success of its PlayStation business. The company raised its profit outlook for the current fiscal year to 870 billion yen ($7.72 billion), an increase from the prior forecast of 670 billion yen ($5.9 billion). It also raised its revenue forecast to 8.7 trillion yen, from 8.6 trillion.

Bloomberg reports that the revised forecasts are largely the result of success in the PlayStation division. Between the record success of Spider-Man and several third-party games, PS4 is helping stabilize the company as its smartphone business faces uncertainty. This comes just after Sony previously lifted its forecast in July due to the success of God of War.

Analysts predict sales of third-party games like Red Dead Redemption 2 and Call of Duty: Black Ops 4 will help bolster it as well. Rockstar's own sales figures announced today suggest Red Dead 2 is the hit they expect. Fortnite also helped boost the brand, since spending on in-game items increased over the summer while kids were home from school, and that revenue is shared with Sony.

Damian Thong, an analyst with Macquarie Group said this will be "the best year for the PlayStation for first party games and overall profitability of the platform."

Game and network service sales were up 116.9 billion yen ($1 billion), and the company has now reached a total of 34.3 million PlayStation Plus users as of the end of the quarter on September 30. Operating profit for PlayStation alone rose 65% from a year ago, and sales for the September quarter rose 27%. PlayStation isn't the only part of the business helping Sony's bottom line, though. Roughly half of the increase is reportedly due to Sony's purchase of EMI Music Publishing.

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MrStarkiller

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Only to blow the good will on censorship and first-party IP bastardization (betraying fans). This while the 'cycle' is ending soon. Letting the US side run the place is a mistake (too subject to infiltration/subversion from non-gamer, political types). 'Journos' shilling for these things doesn't help (backing even the nonsense Blizzard got up to). Anti-consumer apologists who truly hate their readers, fans, etc. (projecting their own entitlement, no less *the nerve*).

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nofreikinleoms

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how long did it take for ps4 to get a quality game? this generation is a giant disappointment.

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onehitta323

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@nofreikinleoms: have you been in a coma for years?

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Ditronus

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@nofreikinleoms: that's an odd comment. Have you played any games in the last three years?

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nofreikinleoms

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@ditronus: lol ignorance is bliss i guess. do all of us a favor and look at any of the fall months of any year back to lets say 2007 then i want you to compare it to the fall months of any of the past few years. youll see what i mean.

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sakaiXx

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Sony TV division has been killing it these past few years. The pricing could be more competitive though.

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Xristophoros

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Edited By Xristophoros

sony is killing it with its playstation division. they should trim the fat and dissolve their mobile phone division as it is only bringing them down... sony will never be able to compete in that space so why bother? i would love to see sony be a gaming-only company like nintendo. ok, they can keep their movie studios too if they want, only so they don't sell the spiderman rights to those greasy disney suits just to spite them and the marvel fanboys :D

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EdwardNygma

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Spider-Man is a surprisingly good game outside of the Miles/MJ parts. Nice.

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Vodoo

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I love my PS4, but Sony's phones just suck compared to the other Android phones. Tablets to.

I wish they would lower the prices on their TV's a bit. They've definitely gotten back to making great tv's, but they are so overpriced. If you got from a 55 inch LED to a 65, the price increase is roughly $600. If you go from a 65 inch to a 75 inch, the price difference is around $1,500. These aren't even Quantum Dot LED's either. Nevetmind their OLED.

I stay away from Samsung electronics. Too many bad experiences. But Sony has Dolby Vision and Samsung does not. Samsung is making their own version of Dolby Vision that's easier for studios to implement than DV, called HDR 10+ (all software based meta data). Though it's not quite as good as DV, but a big improvement over HDR 10. Sony is not a "bang for your buck" tv company.

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videogameninja

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Edited By videogameninja

I think I speak for many out there when I say… I don’t think anyone in their wildest dreams would have thought that Spider-man on PS4 would have done so well. Great news for Sony and more importantly for Insomniac games.

I always thought they were a very talented studio that for whatever reason didn’t get the respect they deserved this gen but it would appear that they are putting that stigma to rest.

-CAN’T SLEEP NINJA APPROVED-

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Samurai1313

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@videogameninja: the webbed one is a formidable adversary. Lets hope to see a marvel game universe. Blade needs a better game.

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sakaiXx

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@videogameninja: hard to get recognition last gen when their Resistance games were overshadowed by Guerilla's Killzone and other shooters. Glad this gen been great for them.

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BarcaAzul

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@videogameninja:

Completely agree, it just seems first party has been really strong this gen. They have really showed strength in single player games.

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