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Sony reports 65% increase in games profit driven by sales of Spider-Man

Sony has released its financials for its second quarter ended September 30, 2018, with games profits increasing over 65 percent citing Insomniac's Spider-Man specifically for the growth.

Sony has released its financials for its second quarter ended September 30, 2018, with games profits increasing over 65 percent compared to last year due in large part to strong performances of its first-party titles, specifically citing Insomniac's Spider-Man for the growth.

The company earned ¥550.1 billion (~$4.87 billion) in revenue, up 27 percent over the prior year, with operating profit for the quarter at ¥90.6 billion (~$802 million), up 65 percent year-on-year. 

According to the report, sales of the PlayStation 4 actually decreased to 3.9 million units compared to Q2 last year, but strong sales of exclusive titles have managed to offset the declining numbers. 

“We’ve been very blessed with some blockbuster titles,” Chief Financial Officer Hiroki Totoki explained at an earnings briefing. “The lineup will remain strong in the second half of the year.”

Sony reported higher-than-expected software sales thanks to the success of Spider-Man, which sold 3.3 million units in its first three days of launch.

Overall revenue increased 56 percent to ¥317 billion ($2.8 billion), with ¥258 billion ($2.3 billion) of that total coming from digital games.

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