As we reported in June, Sony Worldwide Studios head Shuhei Yoshida indicated that Sony is finally making some money on PS3 hardware. “This year is the first time that we are able to cover the cost of the PlayStation 3,” he said. “We aren’t making huge money from hardware, but we aren’t bleeding like we used to.”

It looks like Yoshida’s comments will prove true, as later this week Sony will report its first-quarter earnings (for the period ended June 30) and according to a Nikkei story (via AFP), Sony is expected to post its first profit in two quarters, including a significant improvement in its games business. The PlayStation business should finally show some profitability thanks to the cost reduction for components and the surge in sales at retail.

The Nikkei report noted that Sony is also anticipating a boost to its games business later in the year thanks to the launch of PlayStation Move, and the company believes its huge investment in 3D TVs and 3D gaming will ultimately pay off as well.