Sony may not be the giant that it used to be, but former PlayStation president and current CEO Kaz Hirai's recovery mission cannot be understated. There was a time not too long ago where the company was making loss after loss after loss; now preliminary reports suggest that it's about to smash its fiscal year forecasts by a significant margin.
Bloomberg reports that the company posted a preliminary operating profit of ¥285 billion ($2.6 billion) for the 12 month period through March 2017, which is some 19 per cent above its most recent forecast. Apparently, all of its businesses are firing at the moment – including the PlayStation division, which we know is going through a purple patch.
Even better news for Sony is that its bounced back from last year's Japanese earthquake faster than expected, as it was previously thought the damage caused by the natural disaster would seriously impede the firm's financials. The company's final earnings report is due out on 28th April, where we'll learn if the organisation hit its ambitious PlayStation 4 hardware forecast of 20 million units.
[source bloomberg.com]
Comments 9
Great on Sony! As I have said before Kaz has really turned the company around.
Can't help but agree, they feel way more focused in their product lines and not so much of the throw everything at the wall approach. I also think, particularly with Playstation, they have got a good groove with what players want. Their focus on games and gamers really helped show that consoles still have a role to play on the gaming landscape.
Good news all round today from both Sony and Nintendo, MS really need Scorpio to be a success. Ideally we want all our consoles strong and competitive, always means better times for us gamers!
Bring back the laughing kaz pic
Yeah I agree on Sony in general. Much more focused product line these days. They're not a giant anymore, but they seem to have finally accepted that and got much better at focusing on their core strengths. Which is good.
Does anyone know if the PlayStation brand is their main source of income ?
@oatmealwarrior92 I read somewhere that their insurance division brings in the most profit but can't be sure. Certainly PlayStation is up there and is definitely it's most popular brand.
Sony's being doing very well & the CEO Kaz has done wonders for the company as a whole, looking forwards to Sony's E3 this year. I like that Sony's been more secretive about what thay are working on, while giving hits now & again its more of a surprise when things get announced.
'CEO Kaz Hirai'? They should rename him 'GOD Kaz Hirai'
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