PlayStation 5 brings Sony record success

Sony shares hit a new record high of 3,338 yen (about $22) per share. The 4.1% jump reflected strong financial results and an upbeat outlook for its PlayStation gaming division. The company expects record operating profit for the current fiscal year, driven by strong third-party game sales and a surge in PlayStation Plus subscriptions.

According to Video Games Chronicle, this figure surpassed the previous closing stock record of 3,260 yen, set in 2000. In its financial report for the second quarter of 2024 (ended September 30), Sony reported a 12% increase in sales for its Game and Network Services division, reaching about $7 billion.

The main driver of this growth was third-party game sales. The year’s hits included sports game EA Sports FC 25 and Chinese role-playing game Black Myth: Wukong. The division’s operating profit rose 184% to $900 million, a record for the second quarter.

Overall, Sony raised its annual revenue forecast by 4% for the fiscal year ending in April 2025. However, it has not been without challenges: PlayStation 5 shipments in the first three months amounted to 3.8 million units, which is 29% less than last year.

Total PS5 shipments are 65.5 million units.