Sony revealed encouraging quarterly results this morning, with year-on-year sales between April and June boosted primarily by the PlayStation 4's success. The company announced a Q1 net profit of 26.8 billion yen (around $265 million), up no less than 757 percent from the last year's figures. Sales also rose 5.8 percent to 1.8 trillion yen ($17.92 billion), with the PS4 helping the company's gaming division post a 95.7 percent year-on-year rise in revenue.
While Sony retained an expected net loss
of 50 billion yen ($486 million) for the fiscal year ending March 2015, the company's gaming division raised its sales forecasts in light of the PS4's "strong performance." The division now expects to post operating profit of 25 billion yen ($243 million), up 25 percent from projections. Sony attributed the revision to reduced costs in producing PS4 hardware, with the console already selling at a profit beforehand.