Sony’s PlayStation 5 has surpassed 61 million units sold, but hardware sales have dropped significantly by 32% year-on-year. The latest financial report reveals that 2.4 million PS5 consoles were sold in the most recent quarter, down from 3.3 million a year ago and 4.5 million the previous quarter.
Despite the decline in hardware sales, Sony’s game revenue has surged by 12% year-on-year, leading to a 33% increase in profit. This growth is driven by an 18% rise in software revenue and a 25% increase in Network Services revenue, including PS Plus subscriptions.
The PlayStation Network now boasts 116 million monthly active users, up from 108 million last year but down from 118 million last quarter. Software unit sales have seen a 5% drop, but higher game prices have contributed to increased revenue and profits.
Recent PS5 releases like Stellar Blade and expansions for popular titles have likely bolstered software sales. Meanwhile, Nintendo sold 2.1 million Switch consoles during the same period, and Microsoft also reported a drop in hardware sales, highlighting a broader trend in the gaming industry.
For more details, check the full report here.