PS5 Sales Fall 35% as Sony Raises Outlook Ahead of GTA 6

PS5 sales fell sharply last quarter, but Sony's gaming business still had one of its best periods in years. Sony shipped 2.6 million PlayStation 5 consoles in the July to September quarter, down 35% from 4 million a year earlier, while PlayStation operating income rose 83% to ¥220.1 billion, about $1.38 billion.

The console has now reached 97.9 million units shipped to retailers, putting it on track to pass 100 million during the holiday quarter. Sony also raised its full year forecast for the games division, betting on big third party releases, with Grand Theft Auto VI arriving on November 19.

Why Are PS5 Sales Falling?

Demand is not the main problem. Sony has struggled to build enough consoles as memory chip shortages and tariffs push up costs, and the company reportedly told retail partners that supply constraints will limit stock until next year, Engadget reports. Nintendo is feeling the same squeeze, as Switch 2 sales dropped 41% after price increases.

Hardware revenue held up better than units, falling only 4.8%, because consoles now cost more and the yen is weaker. Some retailers are even running lotteries for the PS5 Pro to keep scalpers away.

What Drove PlayStation's Profit Jump?

Games and subscriptions did the heavy lifting. Segment revenue rose 8.6% to ¥1,208.5 billion, around $7.6 billion. Network services, which include PlayStation Plus, grew 19.5%, and digital downloads made up 78% of full game sales, up from 72% a year ago. Marvel's Wolverine sold 2.4 million copies.

Across the whole company, net profit climbed 44% to about $2.84 billion, helped by the hit film Spider-Man: Brand New Day, The Verge notes.

What Does This Mean for GTA 6 and the PS6?

Sony lifted its games sales forecast by 6% to ¥4,830 billion, largely on expected third party game sales, and players are already preparing with the GTA 6 preload. The CFO also said work on the next console is "progressing as scheduled," a small hint for anyone tracking the PS6 release date.

In our view, these numbers show PlayStation turning into a software and services company that happens to sell consoles. That works well for Sony's profits, but if memory shortages keep the PS5 scarce during GTA 6 season, many players may simply wait for the next generation instead.

Sony Q2 FY2026 at a Glance

PS5 shipments	2.6 million (down 35% from 4.0 million)
Lifetime PS5 shipments	97.9 million
Games segment revenue	¥1,208.5 billion (up 8.6%)
Games operating income	¥220.1 billion (up 83%)
Digital share of full game sales	78%
Full year games sales forecast	¥4,830 billion (raised 6%)
Sony net profit	about $2.84 billion (up 44%)