Cash rules everything around me
Selling off the PC division, entire buildings, $1.3 billion in expected losses. Fun times at Sony. The PlayStation brand, including the success of the PlayStation 4, is a bright spot, however.
In its first quarter reporting, Sony actually posted a$265 million net income, about seven times better than the same period last year. Operating income, too, doubled.
On the Games & Network side, which is basically PlayStation, sales and operating revenue doubled (131.6 billion yen to 257.5 billion yen). “This increase was primarily 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.”
The operating income of 4.3 billion yen was much improved over last year’s operating income loss of 16.4 billion yen. Selling PS4s at a profit likely helped.