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Sony’s Gaming Business Sees Revenue, Operating Income Jump Over Last Year
Tis the season for quarterly reporting, and Sony has offered up its own numbers for the period ending December 31, 2013. Both revenue and operating income are up, driven by the launch of PlayStation 4 in a number of territories.
Sales increased from ¥268.5 ($2.65 billion) to ¥441.8 ($4.2 billion), a 64.6 percent increase, though equalizing for currency valuation shifts shows a 33 percent boost over last year. Operating income bumped up from ¥4.6 billion ($45.3 million) to ¥18 billion ($172 million).
No new PlayStation 4 sales numbers were revealed, but in January, Sony reported 4.2 million PlayStation 4 units sold through December 28, 2013. Sony also reports declining PlayStation 3 sales, though as the console nears the end of it's life cycle, this should be no surprise.
The company is expecting net losses of ¥110 billion ($1.1 billion) for the year across the entire organization. As a result, Sony has also announced a plan to sell off its PC business, which will impact approximately 5,000 employees.
Our Take
With Sony reporting drastic spin down of PlayStation 3 sales, PlayStation 4 is clearly driving the gaming business at Sony now. The console still has yet to release in Japan (coming later this month), and it seems a sure thing that Sony Computer Entertainment CEO Andrew House will deliver on his promise of five million PlayStation 4 units sold by end of fiscal year.
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