It’s not really a secret that Sony’s been scraping by financially recently, despite the impressive success of the PlayStation 4 in the U.S. and Europe.
The hardware manufacturer had good news for investors this week, though, as it posted improved sales between April and June as compared to last year. The company’s first quarter (that’s fiscal first quarter) net profit of 26.8 billion yen is a 757 percent improvement – that’s right, seven hundred and fifty seven percent – over last year.
PlayStation can’t save Sony all by itself quite yet, but the PlayStation arm of the company has raised earlier projections on operating profit by 25 percent, bolstered not only by the system’s strong performance but also by cost reductions in manufacturing PlayStation 4 hardware.
The company will still expect a yearly net loss of 50 billion yen, much of which is attributable to restructuring costs that led to things like layoffs and the decision to sell off its Vaio computer line, but this is a good start in the right direction.