Sony’s Games Division Swings to Profit on Strong PS4 Sales
The PlayStation 4 has been hit thus far, and its sales have propelled Sony’s previously slumping Games division into the black.
This morning, Sony announced the financial results of its fiscal third quarter, which closed on December 31. Sony sold 4.2 million PlayStation 4s and 3.6 million PlayStation 3s worldwide during the quarter, along with a combined 2 million PlayStation Vitas and PSPs. Software sales were also strong across all platforms, topping 126 million copies sold. That’s a significant year-over-year increase for Sony, which sold 86 million games in Q3 2012.
Those sales helped boost Sony’s Games division to $4.4 billion in revenue, a 65% surge compared to the fiscal 2012 third quarter, and operating income of $177.5 million. That’s compared to the operating loss of $8.1 million Sony’s Games division posted during its second quarter.
News wasn’t as positive across the rest of the company. Sony announced that continued losses in its PC and TV businesses have forced a major restructuring. Sony said it will sell its Vaio PC business to JIP and shift its focus to mobiles and tablets. The company will also spin off its TV business and operate it as a wholly-owned subsidiary focused on “high-end” TVs . As a result of the restructuring, Sony said it will lay off 5,000 employees.
As a whole, Sony reported $22.9 billion in revenue and a profit of $257 million for the quarter.