Sony Q1 2021 earnings results suggest it is on track to sell 12 million more PS5s by April 2022
Sony's year-long sales outlook remained unchanged from target goals, despite the difficulty in gathering resources for the PS5.
The latest fiscal quarter has come to a close and, as a result, a great many companies are reporting on their quarterly financial results and forecasts for future business and sales. It’s a good time to glean information from most companies about what lies ahead or how business has responded to ongoing events. Such is the case with Sony with the PlayStation 5 now out in the field and available to consumers. With its Q1 2021 earnings results in the books, Sony shared that it has assured the components to safely move towards its goal of 14.8 million PS5s sold in this fiscal year.
Sony released its Q1 2021 earnings results on its investor relations website on August 4, 2021. According to the speech transcript attached to the earnings results presentation, the company has gathered what it needs to adequately achieve the PS5’s 14.8-million-unit sales goal by the end of its fiscal year. In fact, the company has claimed that it has the components to put around 12 million more PS5 consoles into the marketplace by the end of its fiscal year on March 31, 2022.
When put on top of the fact that Sony also recently announced that over 10 million PS5s had already been sold worldwide since launch, it would seem the company has the overall components to push the PS5 to 22 million units by March 2022’s end. There has been the issue of semiconductor shortage which continues to affect most of the tech industry, including the PS5. However, during an accompanying Q1 2021 web call, Sony CFO Hiroki Totoki shared that the shortage is a non-issue for its forecast.
With this in mind, Sony’s Q1 2021 reporting suggests the PlayStation 5 is on track to continue to do well and meet the company’s expectations, though its yearly sales outlook has not changed from previous forecasts. For more quarterly reporting, be sure to check out our other Q2 2021 coverage as further companies release their earnings results.
TJ Denzer posted a new article, Sony Q1 2021 earnings results suggest it is on track to sell 12 million more PS5s by April 2022