To say Sony has been having financial troubles this past decade would be putting it lightly. Thanks to stiff competition from Apple and Samsung and shift in consumer taste, Sony has been forced to layoff over 1,000 employees just this year after having laid off 10,000 employees the year prior. The company has also sold off VAIO, their PC division and even spun off Bravia in case their television business completely collapses. Things however aren’t all doom and gloom for the once electronic giant. PlayStation continues to be a loved brand and their latest installment, the PS4, continues to outpace the Xbox One.

Sony Pictures has always been a bright spot for Sony with franchises like Spider-Man, Men in Black, and now the Jump Street series which tend to bring with them big numbers. Thanks to SP and PlayStation, Sony was able to report a surprise Q1 2014 profit in what would have otherwise been another loss for the company.

Thanks to strong demand for the PlayStation 4 and the release of The Amazing Spider-Man 2 which to date has grossed more than $700 million at the box office, Sony was able to report a a first quarter net profit of around $265 million. Besides Spider-Man, 22 Jump Street, the well-received sequel to 21 Jump Street has made $280 million on a $50 million budget.

In the end, much like Samsung who reported a 12% drop in mobile sales and an overall 31% drop in profits from smartphones and tablets in Q1 2014, Sony is also facing a drop in sales for mobile. Sony now expects to sell 43 million Xperia smartphones in 2014, down from its previous forecast of 50 million.

We’ll have a more in-depth review of Sony’s Q1 2014 earnings report soon.

Discuss:

Do you think the PS4 will continue to help Sony’s bottom line?