Sony's PlayStation Business turns a profit thanks to PS4 launch
- Posted February 6th, 2014 at 09:39 EDT by Michael Harradence
Sony has announced its financial report for the quarter ended December 31, 2013, revealing its PlayStation Business has turned a profit thanks in no small part to the release of the PlayStation 4.
Previously, the console maker’s game business had been recording steady losses for some time, though as expected, the launch of its next-generation home console - which has sold 4.2 million units worldwide at last count - has helped bring it back into the black.
Combined sales of the PS3 and PS4 reached 7.8 million in Q3, meaning the former sold 3.6 million taking into account PS4’s aforementioned sales.
In addition, PlayStation Plus subscriptions saw a “dramatic increase” in new signups, while PlayStation Portable and PlayStation Vita sold through a combined two million. This is up from the previous quarter’s 800,000 units shifted, and 600,000 before that.
Sony forecast combined PS3 and PS4 sales of 15 million for the full fiscal year, with PSP and PS Vita sales pegged at five million. The company notes that PS4 is selling better than expected, though conversely, the PS3 is now selling below expectations since its successor’s release.
Sony’s Game Business posted 441.8 billion yen ($4.4 billion) in revenue for the period ended December 31, 2013, while operating income clocked in at 18 billion yen ($117.4 million).
However, as a result of widespread restructuring with the electronics giant, Sony has been forced to cut its forecast for the full fiscal year. The firm now expects losses of 110 billion ($1.1 billion), compared to October’s prediction of 30 billion yen ($295.6 million).