Sony Bounces Back With Latest Earnings Call
Sony has exceeded analyst’s expectations in its latest earnings report, clocking in with a profit of $205 million.
It’s a strong result for the company, which has struggled on multiple fronts – from smartphones to TVs to film
The company’s shares climbed 1.7% in the aftermath of the news.
The key factor here is the video game-focused branch of the company, where earnings more than doubled over the last quarter.
Sony are expecting 20 million PS4s by year’s end.
“They’re releasing more software and the time is now to harvest profits,” said Hiroyasu Nishikawa, an analyst at Iwai Cosmo Securities Co told Bloomberg.
Expectations for the company’s coming VR headset, coming in October, are sure to rise as a result of the news