PS4 Expected To Have Outsold Lifetime Sales Of PS3 Within Months

Sony reported a net profit of 226.4 billion yen for the April June quarter up from 80.9 billion yen from a year earlier

Sales increased 5.1 percent to 1.95 trillion yen. Sony note that a lot of the profit came from sales via the PSN as gamers slowly move towards digital purchases rather than physical discs.

Sales of PlayStation 4 products were doing "better than expected" as a result of popular gaming titles, Yasuo Imanaka, an analyst at Rakuten Securities in Tokyo, said before the results were announced.

For the April-to-June quarter, it reported a net profit of ¥226.4 billion, up from ¥80.9 billion a year earlier. The company generated an operating profit of ¥195 billion (~$1.7 billion), which was much higher than the projections of ¥145.5 billion (~$1.3 billion).

"Sales are expected to be significantly higher than the April forecast primarily due to higher-than-expected PlayStation 4 ("PS4") software sales including sales through the network, the impact of foreign exchange rates, as well as an expected increase in PS4 hardware unit sales", commented the company. Sony recorded a one-time gain of ¥53.9-billion from the sale and said its remaining shares have a fair value of ¥95.3-billion.

In May, Sony unveiled a $1.9-billion deal to buy industry titan EMI Music Publishing, which has the rights to songs by the likes of Queen and Pharrell Williams.

Separately, Nintendo Co yesterday said its quarterly net profit jumped 43.9 percent year-on-year to US$275 million, driven by the global popularity of its Switch console and game titles.

However, given the good results, Sony now trusts that it will be able to reach the 96 million units of consoles sold.

Sony is the main brain behind the success of PS4 but i think some credit still goes to Microsoft because of the disaster that took place during Microsoft's E3 2013 press conference when they announced Xbox One. After selling 2 million smartphones in Q1, Sony cut its full-year forecast further, to 9 million units from an outlook of 10 million in April. Previously, the company had forecast that net income would be ¥480 billion (~$4.2 billion) on sales of ¥8.3 trillion (~$74.14 billion).

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