PlayStation 4's quick start boosts Sony quarterly revenue

The company saw revenue rise 24 percent year-over-year and was able to turn last year's loss into a slight profit.


Sony's PlayStation 4 and smartphones helped the company generate a slight profit during its fiscal third quarter ended December 31.

Sony revealed on Thursday that it generated $23 billion in revenue during the period, up 24 percent compared to the same period in 2012. Sony was able to turn a slight loss in 2012 into a $257 million profit.

The successful quarter stands in stark contrast to Sony's revised full-year forecast, which expects the company to post a $1.1 billion loss.

The PlayStation 4 was a significant jump start for Sony's business, helping the company's game division increase its sales by 65 percent to $4.2 billion. Sony's mobile business was positively impacted by stronger smartphone sales that helped that division grow its revenue by 45 percent to $4.4 billion.

Nearly across the board, Sony had a strong quarter, with its cameras business jumping 6 percent, home entertainment expanding revenue by 25 percent, and music operation increasing its revenue by 14.4 percent.

Sony is in the middle of a reboot under the leadership of CEO Kazuo Hirai. In addition to touting its improved sales on Thursday, Sony said on Wednesday night that it plans to sell its PC business to Japan Industrial Partners. For more on that and a deep analysis of Sony's business, click here for a story from CNET's Stephen Shankland.

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