Sony shares hit record closing high on gaming prospects
Growing hopes for its entertainment business have driven Sony shares to new heights
Sony Group shares hit a record closing high on Tuesday, thanks to growing optimism for its PlayStation business and other entertainment units.
Shares closed up 4.1% at 3,338 yen ($22) on Tuesday, topping the previous closing high of 3,260 yen achieved back in 2000.
According to the Wall Street Journal, the stock has been on the rise since last month when Sony reported strong results for its second quarter, driven by profit growth in its game segment.
Operating income for the three months ended in September reached about $900 million, a new record high for PlayStation during a second quarter.
Sony expects the PlayStation business to generate record operating income for its current fiscal year ending in March 2025, partly due to strong sales of third-party games and PlayStation Plus subscriptions.
The company recently updated PlayStation’s website with a timeline chronicling 30 years of the iconic gaming brand. Featuring a host of images, videos and stats, the update launched ahead of PlayStation’s 30th anniversary on December 3, 2024.
Last month Sony launched PlayStation’s 30th Anniversary Collection, which includes grey PS5 Digital and PS5 Pro consoles. The standard PS5 Pro also launched in November, with a manufacturer’s suggested retail price of $699.99 / £699.99.
