Sony reports a 180.5% increase in operating income, with PS4 shipments hitting 63.3 million

Sony Corporation just announced its latest financial results for the last quarter ending June 30, and it would seem that the company is largely out of the woods after it was reported that its profits have jumped significantly during the mid-year quarter.

It announced that the company's operating profit for the quarter jumped a massive 180.5% over the previous year, and net income jumped a staggering 281.4% to $564 million. Revenue increased 15.2% to $16.7 billion for the quarter. The semiconductor and imaging business has, according to the company, offset the slightly weaker Gaming and Networking division. Sony supplies imaging solutions to smartphone manufacturers like Apple amongst others.

However, the Gaming and Networking division weren't all that gloomy with the company reporting that it has shipped 63.3 million PlayStation 4 consoles to date. This is up from the 60.4 million as revealed in June. The division saw its operating income drop from $396 million to $159 million, even though sales were up approximately 5%. Sony expects to reach 78 million PlayStation 4 shipments by the end of its 2017 financial year.

It's Mobile Communications division, which the Xperia line of smartphones falls under, continued its steady decline, although not to as bad extent as previous quarters, with it seeing a 2.5% drop. Sony, however, noted that it would have increased by 1% under constant currency. Operating income for the division was up, showing that the company's restructuring efforts are having a positive effect.

You can view the full financial results here. Sony announced that it will launch Knack 2 and Gran Turismo Sport during this year's holiday season, and recently revealed the Destiny 2 PlayStation 4 Pro bundle which will go on sale later this year.

Source and Image: Dualshockers

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