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Sony Eyes Record Profit Thanks to ‘God of War,’ ‘Spider-Man’

Sony expects to make record profits in fiscal 2018, largely thanks to the PlayStation and major hits like “Marvel’s Spider-Man” and “God of War.”

The company’s operating income increased 17% to 239.5 billion yen (about $2.1 billion USD) in the second quarter of fiscal 2018 compared to the same period last year, it said in an earnings presentation on Tuesday. Sales increased 6% in the second quarter to 2.2 trillion yen ($19.5 billion USD).

The PlayStation division was Sony’s top earner. Second quarter sales rose 27% year-on-year to 550.1 billion yen (nearly $4.9 billion USD), and operating income increased 35.9 billion yen year-on-year to 90.6 billion yen (approximately $804 million USD). This was mainly due to an increase in software sales, Sony said. The PS4 exclusive “God of War,” which launched in April, became Sony’s fastest-selling first-party title ever with more than 3.1 million copies sold in its first three days. But, it didn’t hold the record for long. “Marvel’s Spider-Man” toppled it in September with over 3.3 million copies sold in its first three days.

Sony sold 3.9 million PlayStation 4 consoles in the second quarter. That’s slightly up from the 3.2 million sold during the previous quarter, but down compared to the 4.2 million units sold during the second quarter of fiscal 2017. Meanwhile, PlayStation Plus now has about 34.3 million subscribers, Sony said. It had only 28.1 million subs during the same time last year.

Sony is apparently doing so well it’s increasing its forecast for fiscal 2018. It now expects to make 8.7 trillion yen (over $77 billion USD) in revenue this year, 100 billion yen higher than its previous forecast. It also expects operating income to increase 200 billion yen to 870 billion yen (about $7.7 billion USD), which would be a record for the company.

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