Sony's PlayStation division sees sales increase, still operating at a loss

As analysts predicted, Sony finished the first quarter of its fiscal year (ending June 30, 2010) with a net income of ¥25.7 billion ($295M), a significant increase from the ¥37.1 billion ($426M) loss during the same quarter last year. Overall, sales were up 3.8 percent year-over-year to ¥1.7 trillion ($18.7B).

Compared to the same time last year, the division that houses the PlayStation brand is in a much better place, even though it still operates at a loss. While sales increased 32 percent this year to ¥326 billion ($3.7B), bumped up by PC and PlayStation 3 hardware and software, the division had an operating loss of ¥3.8 billion ($43 million) -- a vast improvement from the ¥36.7 billion ($422M) loss last year. The company expects hardware sales of the PS3 to continue increasing this year and software sales to remain flat.

This article was originally published on Joystiq.