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Sony Q3 FY3/2024 Financial Results (Oct- Dec 2023) | GN&S sales up by 16% YoY, OI down by 26%; PS5 HW at 8,2m, SW at 89,7m, new forecast + SM2 at 10m

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Q3 sales

Hardware - 8,2M
(+15% YoY)
Software - 89,7M (+4% YoY)

Q1-Q3 Cumulative sales

Hardware - 16,4M
(+28% YoY)
Software - 213,8M (+9% YoY)

Spider-Man 2 sold through 10m units by February 4th, 2024

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New forecast:


Sales are expected to be lower than the November forecast, mainly due to an expected decrease in sales ofhardware resulting from lower unit sales, partially offset by the impact of foreign exchange rates and an expectedincrease in sales of non-first-party titles including add-on content. Operating income and Adjusted OIBDA areexpected to remain unchanged from the November forecast mainly due to the impact of the above-mentionedincrease in sales of non-first-party titles, substantially offset by an expected increase in losses from hardwaremainly due to promotions.

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New Hardware forecast is 21M (-16% vs previous forecast), hardware sales expected to be at 4,6M in Q4.

Outlook for the next FY


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How do you think SIE planned to hit the OI forecast they've confirmed in early February of 270Bn yen?
It means Q4 needs to generate roughly the same profits as the holiday quarter (Q3).

270,000-(49,160+48,902+86,139)= 85,799

Note: The above figures are in million of yen.

Maybe because they lowered the HW forecast (PS5 HW likely still lose money for SIE thus less HW sold, less HW losses)?
PS5 Slim having better margin than OG? (I don't know if this is the case although I'd hope so)
Helldivers 2 popularity on PC?
First effects of the mass layoff of the SIE workforce announced in late February?
However SIE had to rely on temporary offers during Q4 (HW price cut, SW bundle with the console thus hurting the profit margins) in Europe and America in an attempt to hit the revised down annual HW forecast (down by 4 million units).

Anyway looks like a curious prediction, don't remember if it was already pointed out months ago.

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Probably, thanks to Helldivers II, that game probably made like 400 mil in revenue by Mar 31st, which they didn’t expect.


Yes that has been a breakout hit!
I wonder if/how it will affect

- GaaS initiative, considering the mixed signals (cancellations vs hit)
- their day1 PC releases (already strongly hinted as increasing last time)
 


BREAKING: Sony Interactive Entertainment (PlayStation) will replace former boss Jim Ryan with two new CEOs: Hermen Hulst (CEO of studios) and Hideaki Nishino (CEO of platforms), both reporting to Chairman Hiroki Totoki, company says. Effective June 1.




 
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Doesn’t Xbox have the same structure, Sarah Bond as hardware lead, and Matt Booty as First party/studio lead? Then they also report to Phil Spencer, they way Hulst and Nishino will report to Totoki?
Not quite. There's no equivalent to Spencer's role in Sony now. Spencer is essentially the CEO of the XBox division, since he's the top dog. Here instead, both report directly to the board, who are not just Playstation focused.
 
Any last minute guesses to Hardware for last quarter? Will they hit the target of 21mil?

I forgot what was last update if I can get some refresher please
 
Any last minute guesses to Hardware for last quarter? Will they hit the target of 21mil?

I forgot what was last update if I can get some refresher please
Sold through to consumers was 50 million - December 9, 2023

Q1-Q3 sales were 16.4 Million and the total sell in as of December 31, 2023 was 54.8 Million

So to meet their goal of 21 million they need 4.6 Million consoles Jan-Mar.

For some context the PS4 averaged 2-3 million for this quarter usually and the only time they've exceed 4 million before was last FY when the supply surged.
 
Sold through to consumers was 50 million - December 9, 2023

Q1-Q3 sales were 16.4 Million and the total sell in as of December 31, 2023 was 54.8 Million

So to meet their goal of 21 million they need 4.6 Million consoles Jan-Mar.

For some context the PS4 averaged 2-3 million for this quarter usually and the only time they've exceed 4 million before was last FY when the supply surged.
They did some stupid deals, like it was mind blowing how much deals Sony did.

I still remember buying my PS5 on my European trip because there was like a god damn 100-150 euro deal (plus the tax refund). Wild to the point i don't think it was all that worth it.
 
Seems like both will keep doing what they were already doing, but with bigger responsibilities and more power. Good call to opt for continuity in those roles.

Also a good call for Totoki to still be in charge (albeit obviously in a more hands -off way)... unfortunately a bean counter is what SIE needs at this moment.
 
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