The PlayStation 4 launch underlined Sony's console gaming ambitions, and it looks like it was pretty darn good for business as well. According to Sony's Q3 financial report, the PlayStation division was able to return to profitability during the three month period ended December 31st 2013.
Sony overall posted Q3 operating income of 90.3 billion yen ($860 million USD) and net income of 27 billion yen ($265 million) compared to a 10.8 billion yen ($106 million) loss during the same quarter last year, and the company has strong PS4 sales to thank for that. The gaming segment posted revenue of 441.8 billion yen ($4.4 billion) and operating income of 18 billion yen ($172 million), both year-over-year improvements. With global sales of 4.2 million consoles and counting, Sony looks to be on track to reaching its goal of 5 million PS4s sold by the end of March.
Outside of gaming, Sony will be selling off its long-running Vaio PC business to Japan Industrial Partners Inc. (effectively exiting the PC market) while spinning off its television business into a separate unit. Restructuring will also continue, leading to the loss of 5,000 jobs (around 3 percent of its total global workforce). The goal here to revive the electronics business overall amidst declining sales by focusing on its three "pillars": gaming, mobile devices and imaging products.
The company has revised its annual operating income forecast downward to 80 billion yen, less than half the 170 billion yen estimate it provided last October. Sony's revenue forecast of 7.7 trillion yen remains unchanged. Sony also abandons hope for profitability as it now predicts a net loss of 110 billion yen ($1.1 billion) for the fiscal year ending March, its fifth loss within six years.