Sony gaming sales

Sony reported a Q1 2024 profit growth of $1.9 billion, driven primarily by its gaming and music segments, despite weak PS5 sales of just 2.4 million units, falling short of the 3 million target. The overall sales in the Game & Network Services segment rose significantly, with a notable increase in subscriptions and add-on content, even as software unit sales decreased. The company adjusted its fiscal year forecast upward, citing favorable exchange rates and strong engagement across its gaming platforms. CEO Hiroki Totoki confirmed that a rumored acquisition of Paramount was not pursued, emphasizing strategic focus. Additionally, music streaming has contributed to revenue growth, aided by an expanding subscriber base. Sony anticipates continued strong performance in gaming, music, and image sensors, reflecting a resilient market presence.