PlayStation Generated Record Revenue Of $8.8 Billion In Q3 2022

Because of the money people spend on them, holidays are a key period for the gaming industry. With the PS5 becoming available again, this holiday season was a big success for PlayStation. God of War Ragnarok‘s remarkable critical and commercial performance further helped the gaming giant in recording a successful fiscal quarter.

Now, it turns out that in Quarter 3 of 2022, Sony reported an all-time-high revenue from the PlayStation gaming ecosystem. Meaning that hardware, subscription, and game sales resulted in record revenue this fiscal quarter. Hence, the company was going all out on all fronts during the holiday season.

PlayStation makes history with record $8.8 billion earnings in Holiday 2022

This is the best performance for PlayStation ever, shattering all previous records 👀🔥 #PS5 #PS4

See more: https://t.co/Vbj7wJXEWD pic.twitter.com/mUir329HCZ

— Hunter 🎮 (@NextGenPlayer) February 4, 2023

The gaming industry is the only industry in the world that has been growing year after year. Even though it had a small decline this year after peaking in 2021, it is still a juggernaut. Gaming makes more revenue than music, film, TV, and books combined, which showcases its sheer scale.

PlayStation is one of the goliaths of the industry and is a name synonymous with gaming itself. Fans haven’t had the easiest time buying its next-gen console these past few years. But, with the supply issues now coming to an end, the future looks very bright for the company.

Sony recently announced that the PlayStation 5 will be available readily in 2023. It returned to the top of the Japan sales chart after a long time as a result of this accessibility. But, this improvement started in the 2022 holiday season when PlayStation 5 became the most wish-listed item at Christmas.

The recent quarterly financial report from Sony also backed this up, with the console selling 7.1 million units. And, this report contains another tidbit that showcases how much the console’s availability has helped the company. 

PlayStation Games and Network Services recorded its highest-ever revenue in Quarter 3 of the fiscal year 2022. Including console, games, and PlayStation Plus sales, the company made $8.8 billion this quarter. And, this gross of the gaming sector is bigger than any year that came before it.

Without a doubt, the PlayStation 5s new rise in stock played a key role in this historical gross revenue. The console alone made $3.11 billion in sales while selling over 7 million units. Compared to last year, this is an increase of $1.337 billion, reflecting its better availability.

Revenue was up 23% In comparison with the 3rd Quarter of the fiscal year 2021, which brought in $7.15 billion. Hence, PlayStation made a staggering $1.6 billion more this holiday season than in 2021’s. It is a new high for the company, and physical games also played a key role in achieving it.

Sales of games like God of War Ragnarok and Call of Duty Modern Warfare II made Sony a further $659 million. The sequel to God of War sold 11 million copies while trying to achieve this goal. Hence, the first-party release facet of PlayStation was also doing really well this quarter.

GOD OF WAR RAGNAROK has sold 11 million copies to date.

It is the fastest selling PlayStation Studios release in history. pic.twitter.com/lH2DnsGVsI

— The Game Awards (@thegameawards) February 1, 2023

The only thing Quarter 3 of 2022 gets beat in is its operating income. Quarter 2 of 2021 still has the highest profit with $991 million, significantly more than the $820 million the company made this quarter. However, it did beat out the holiday season of 2021 in this stat.

Due to the resurgence of the PlayStation 5 stocks, the company has a lot to look forward to. Hopefully, this resurgence continues, and PlayStation will reach its newly set goals for FY2022.