Sony's Q2 Earnings Reveal PS4 Games Rocketed 83% During COVID-19

Sony has just reported its second-quarter financial earnings for 2020, and it appears that game sales for the PlayStation 4 has almost doubled since COVID-19.

In particular, a staggering 91 million PS4 games were sold from the beginning of April till end of June, marking an impressive 83 percent increase when compared to the 49.8 million sales during the same quarter in 2019. Unsurprisingly due to lockdown, 74 percent of those sales were digital copies, with 18.5 million being first-party exclusives such as Naughty Dog’s The Last of Us: Part II. PlayStation Plus subscriptions also went up from 41.5 million at the end of the first quarter to now 44.9 million, but unfortunately console sales decreased due to the slowing economy, down 41 percent.

“Although factors such as constraints due to employees working from home and restrictions on international travel remain, necessary measures are being taken and preparations are underway with the launch of the console scheduled for the 2020 holiday season,” Sony reassured investors.

Gaming definitely contributed massively to the company’s overall standings this year, bringing in $5.7 billion USD over the quarter, compared to just $4.3 billion USD in the same period last year. Almost every other sector of the company’s business saw year-over-year declines, including television, camera, and smartphone sales. Despite this, Sony managed to sustain growth, raking in $18.6 billion USD in overall sales this past quarter, up from $18.1 billion USD last year.

Elsewhere in business-related news, Ferrari’s second-quarter earnings dropped 60 percent.
Source: Read Full Article