Strong PS4 sales boost Sony’s profits

<p>Strong sales of the firm’s flagship game console have boosted Sony’s profits.</p>

Sony posted positive quarter profits today (July 31st) thanks to strong sales of the Playstation 4 (PS4) and a weak yen.

The Japanese electronics firm reported profits of 25.7 billion yen (£148 million) from April to June, up from just 3.1 billion yen during the same period last year.

Sony said that sales of the PS4 console grew by 96 per cent in the quarter and it has now surpassed Nintendo in terms of game console sales.

The firm's gaming division made an operating profit of 4.3 billion yen in the first quarter, compared with a loss of 16.4 billion yen during the same period in 2013.

However, Sony is in the middle of a huge restructuring project, and despite the large growth in profits during the last quarter, Sony still expects to make a loss of 50 billion yen in the year to March 2015. 

The company's shares fell 1.1 percent to 1,772 yen in Tokyo before the announcement, extending its loss this year to three percent. 

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