It's a fine return to form for the PlayStation brand as Sony confirms its video game business achieved profitability during the first quarter of its current financial year. Indeed, the strong performance of games and movies allowed the electronics and console giant as a whole to surprise analysts and naysayers alike with net income of 26.8 billion yen ($261 million USD) for the three month period ended June 30th, a 757 percent year-over-year increase in profit.
Sony's Games & Network Services segment (in charge of all things PlayStation) managed to swing back to profit of 4.3 billion yen ($41.8 million) compared to the 16.4 billion yen ($159.5 million) loss it suffered during the first quarter of last fiscal year. Quarterly revenue also rose nearly 96 percent to 257.5 billion yen ($2.5 billion USD).
The ongoing success of the PS4 at retail no doubt its played its part this reversal of fortunes for Sony's gaming business. The company managed to sell an estimated 3.5 million PS4 and PS3 consoles combined this past quarter, in addition to a combined total of 750,000 PS Vitas, PSPs and PS Vita TVs. Software sales meanwhile reached 85 million units across all PlayStation platforms.
Sony's PlayStation business is doing the company so proud that it's one of the few divisions that it believes will exceed expectations by the end of its current financial year. The company has revised both its sales and profit forecasts for the Games & Network Services segment upward to 1.24 trillion yen ($12 billion) and 25 billion yen ($243 million), respectively. This will likely be a bright spot Sony needs come March 31st 2015, as it is still bracing for a companywide annual loss of 50 billion yen ($486.5 million).