Sony: PS4 Is Already Contributing To Profit

The PS4 has been a smashing success, selling over 7 million units.  Sales have been so strong that Sony has confirmed that the PS4 is already generating profit for the company.

Sony CEO Kaz Hirai made the announcement at an investor briefing.  “From a profitability perspective, PS4 is also already contributing profit on a hardware unit basis, establishing a very different business framework from that of previous platform businesses.”  This good news for Sony, a company whose previous console dragged them into the red during its first few years of availability.

PS+ is also quite profitable with over half of the PS4 install base subscribed to the service.  The number of active users on PSN and the Sony Entertainment Network has risen above 52 million.

Hirai also spoke briefly about the $1.2 billion loss the company posted for Fiscal Year 2013, and hopes to get things back on track for Fiscal Year 2015.  “As explained at last week’s earnings announcement, we recorded a substantial net loss for the 2013 fiscal year. Looking to fiscal 2014, due to the delayed recovery of our electronics business, and the continuation of our comprehensive restructuring program, we are again anticipating a net loss, of 50 billion yen.

“When I was appointed president, I made revitalizing the electronics business my highest priority, and we have since executed many initiatives. Yet, while the Entertainment and Financial Services businesses posted results that met or exceeded our projections last year, I am extremely disappointed that we have not been able to complete our electronics turnaround.

“In particular the fact that we have recorded a net loss for two successive years is something I take very seriously, and being unable to meet the expectations our stakeholders is something I deeply regret.”

The PS4 is available now in 72 countries for $399.99.  A year subscription to PS+ costs $49.99.