PS5 shipped 19m units in FY2022, games revenues up 33% to $26.5bn

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PlayStation 5 shipped 19 million units in the fiscal year ending March 31, 2023 – ahead of Sony's original target of 18 million.

The sales achieved were partly thanks to resolved pandemic-induced supply issues which have hampered the PS5 during the early years of its life.

The milestone was announced alongside Sony's full-year financial results, which also showed sharp rises in game sales. Here's what you need to know:

The numbers

FY 2022 ending March 31, 2023

• Total sales: ¥11.5 trillion ($84.5 billion, up 16% year-on-year)
• Operating income: ¥1.2 trillion ($8.8 billion, 0% change)
• Income before income taxes: ¥1.2 trillion ($8.8 billion, up 6%)

Game & Network Services (incl. PlayStation)

• Sales: ¥3.6 trillion ($26.5 billion, up 33%)
• Operating income: ¥250 billion ($1.8 billion, down 28%)

• PlayStation 5 units shipped: 19.1 million (up 66%)

Q4 FY2022

• Total sales: ¥3.1 trillion ($22.8 billion, up 35%)
• Operating income: ¥128.5 billion ($944.3 million, down 7%)
• Income before income taxes: ¥144.6 billion ($1.1 billion, up 61%)

G&NS

• Sales: ¥1.1 trillion ($8.1 billion, up 61%)
• Operating income: ¥38.9 billion ($285.9 million, down 55%)

• PlayStation 5 units shipped: 6.3 million (up 215%)
• PlayStation Plus subscribers: 47.4 million (0% change)
• Monthly Active Users: 108 million (up 2%)

The highlights

Sony's Game & Network Services division, which handles PlayStation, was once again the largest revenue driver for the company, thanks to increased sales of both hardware and software. In fact, G&NS sales were 50% higher than those of Sony's next biggest segment, Entertainment, Technology & Services.

Game software generated ¥1.7 trillion ($12.5 billion, up 13%), the majority of which was from add-on content at ¥862 billion ($6.3 billion, up 1%). Physical game sales generated ¥193.4 billion ($1.4 billion, up 50%), while digital full-game sales generated ¥660.9 billion ($5 billion, up 16%)

67% of all game sales were digital, a slight uptick on the 66% from the previous fiscal year.

In addition to the 19 million PS5 units, 264.2 million full games were sold in the twelve-month period, down from 303.2 million the previous year. 43.5 million first party games sold, just shy of the 43.9 million managed in the previous fiscal year.

The company noted that will first-party title sales were higher than the previous year, there has been a decrease in sales of third-party games and add-on content.

PlayStation also saw its operating income impacted by increasing costs of development, as well as the recording of expenses associated with acquisitions, including Bungie.

Looking specifically at Q4 (three months ending March 31, 2023), game sales revenues were up 61% and PS5 unit sales were up a whopping 215% to 6.3 million.

Ampere Analysis' Piers Harding-Rolls notes that this is not just a record January to March quarter for Sony's hardware sales, but for any console – and over two times as many units as PS4 ever sold in the same period.

With supply issues resolved, Sony expects stronger hardware sales in its next financial year, and the hardware is expected to become more profitable, which will boost operating income.

The forecast

FY2023 ending March 31, 2024

• Sales: ¥11.5 trillion ($84.5 billion, 0% change)
• Operating income: ¥1.2 trillion ($8.8 billion, down 3%)
• Income before income taxes: ¥1.1 trillion ($8.1 billion, down 3%)

Game & Network Services

• Sales: ¥3.9 trillion ($28.7 billion, up 7%)
• Operating income: ¥270 billion ($2 billion, up 8%)

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