Just a few months ago, we were looking at Sony's end-of-fiscal-year financial reports and worrying about the consumer electronics giant's $10+ billion in losses over the past eight years. Today, things are looking a bit rosier, as Sony is riding strong sales of the PlayStation 4 and its associated games and services to an increase in profitability for the quarter ending in June.
The numbers for Sony's Game & Network services division tell the tale, flipping from a ¥16.4 billion (about $160 million) loss this time last year to a ¥4.3 billion (about $42 million) profit this year. Savvy industry watchers (or anyone with half a brain) will note that the PlayStation 4 launched in that time, and Sony confirms that the turnaround is "due to the contribution from sales of PS4 hardware which was launched in November 2013, as well as a significant increase in network services revenues accompanying the launch of the PS4."
Digging deeper into the numbers, we see that Sony sold 3.5 million game consoles (including both PS3 and PS4) worldwide for the quarter, up significantly from the 1.1 million PS3s it sold during the three-month period in 2013....
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