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.

[via bloomberg.com]