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Sony's games division drives strong growth in profits

Sony's games division drives strong growth in profits

October 31, 2017 | By Chris Kerr

Sales and profits are up at Sony, which just released its financials for the three months ended September 30. 

Overall sales rose by 22.1 percent year-over-year to 2.06 trillion yen ($18.12 billion), while profits across the entire company also leapt up by 2,602 percent to 130.9 billion yen ($1.14 billion). 

In the Games and Network Services division, which houses Sony's video game operations, year-over-year sales increased by roughly 35 percent to 433.2 billion yen ($3.81 billion), while profits rose roughly 346 percent to hit 204.2 billion yen ($1.8 billion).

That increase was largely driven by rising PlayStation 4 software and hardware sales, along with the positive impact of foreign exchange rates. 

During the second quarter, Sony managed to move 4.2 million PS4 consoles, and now expects to see worldwide sales reach 19 million units by the end of the fiscal year. 

That means the PS4 should smash the 70 million mark sooner rather than later, with the system surpassing 60 million sales at the start of June. 

Based on that Q2 showing, the firm has upwardly revised its sales forecast for the division, and now expects Games and Network Services to have generated 180 billion yen ($1.58 billion) in profits on 2 trillion yen ($17.6 billion) in revenues by March 2018.

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