SEGA Reported Growth in Sales and Profits in Q3

SEGA has released a financial report for Q3 (the three months ending on December 31, 2022) revealing growth in sales and operating income.

The company's revenue in the quarter amounted to ¥271.9 billion (approximately $2.1 billion) representing a 14.9% year-over-year increase. Its operating income grew by 17.1% to ¥38.2 billion ($292.6 million).

Based on the successful results of the third quarter of its fiscal year SEGA revised its full-year forecast and now it expects to generate revenue of ¥381.5 billion ($2.9 billion) compared to the previously projected ¥375 billion ($2.87 billion). It also anticipates an operating income of ¥45 billion ($345 million), up from ¥40 billion ($307 million) it previously forecasted.

SEGA noted the strong sales of its new titles including Sonic Frontiers and the re-release of Persona 5 Royal and was also pleased with sales of its free-to-play titles. However, it admitted that sales of its older games were weaker than expected. 

The company has shared sales figures for games released during the quarter. It revealed that Sonic Frontiers has sold over 2.9 million units and the remaster of Persona 5 Royal sales surpassed 1.3 million units (as of the end of December 2022).

The previous sales update on Sonic Frontiers took place in the middle of December 2022. At the time, SEGA reported 2.5 million copies of the game sold. The new Sonic title is one of the fastest-selling titles in the franchise.

The company previously promised to continue supporting Sonic Frontiers with "large-scale" updates, all of which will be free and will feature a number of new additional elements, including new modes and costumes, to the action game.

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