PS5 sales fall in fiscal year earnings

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Sony Corp. this week recorded increased net sales amid lower PlayStation 5 demand in fiscal year 2023 earnings.

The Game and Network Services segment, which includes the PlayStation business, held net sales of $27.5 billion, 17 percent above the prior fiscal year. Operating income increased 16 percent to $1.9 billion from one year ago.

PS5 sales fell 29 percent to 20.8 million units in the latest fiscal year, a miss from its 21 million unit forecast. It sold 5.4 million units in Q4. Sales to date total to 59.2 million units.

The company forecasts 18 million PS5 units sold in the fiscal year ending Mar. 2025.

The PlayStation Network held 118 million active users in Q4.

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