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Sony cuts Game & Network Services FY2023 sales forecast by 5% on lower PlayStation console sales

Despite selling more PS5 consoles this quarter, Sony is decreasing its forecast of sales.

Sam Chandler

February 14, 2024 12:20 AM

Sony

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Sony has released its financial reports for its Q3 FY2023 operating period. These reports highlight how the company is performing and how it thinks it will perform. Sony has made an adjustment to its full year Game & Network Services Segment sales forecast, lowering it by 5 percent on lower hardware sales.

On February 14, 2024, Sony released its financial reports for its third quarter FY2023. Within the Consolidated Financial Results, slide 11 on page 6 revealed that Sony is decreasing its sales forecast by 5 percent. One of the points notes a “Decrease in sales of hardware resulting from lower unit sales”. It appears as though the PlayStation 5 isn’t selling quite as well as Sony had forecast.

This change in forecast is despite the fact that PlayStation 5 has surpassed 50 million unit sales since the console launched in 2020. In today’s earnings report, Sony revealed that it had sold 8.2 million units in Q3 FY2023, an increase compared to Q4 FY2022 where the PS5 sold 6.3 million units.

It will be interesting to see how well Sony’s PlayStation 5 continues to sell over the coming quarters and years. Be sure to check out our Sony News page for the latest on Sony’s financial reporting and other information.

Sam Chandler

Guides Editor

Hailing from the land down under, Sam Chandler brings a bit of the southern hemisphere flair to his work. After bouncing round a few universities, securing a bachelor degree, and entering the video game industry, he's found his new family here at Shacknews as a Guides Editor. There's nothing he loves more than crafting a guide that will help someone. If you need help with a guide, or notice something not quite right, you can message him on X: @SamuelChandler