PlayStation Growth Boosts Sony Shares to Record Closing High | Push Square
Sony Group's shares have never been higher than they are right now, and that's thanks in large part to its PlayStation division.
The corporation's shares are currently worth ¥3,338, beating the previous highest value — ¥3,260, achieved in 2000.
This rise in value stems from growth in the gaming segment. PlayStation reported a very strong second quarter, reaching operating profit of $900 million, also a record high for the division's Q2.
Indeed, things have been quite rosy for the company this generation. PS5 is the most profitable console for Sony yet, and is selling roughly in line with PS4.
PlayStation's profitability forecast for the current fiscal year was actually increased, with Sony's reasoning being increased hardware and third-party game sales.
It isn't all sunshine and rainbows in Sony's circles, of course, with studio closures, the disastrous launch of Concord, hardware price increases, and more impacting the platform holder this year. Still, even with some knocks and missteps, it appears Sony as a whole is doing very well, with PlayStation a very important cog in the machine.
Stephen has been part of the Push Square team for over six years, bringing boundless enthusiasm and a deep knowledge of video games to his role as Assistant Editor. Having grown up playing every PlayStation console to date, he's developed an eclectic taste, with particular passion for indie games, arcade racers, and puzzlers. He's also our go-to guy for Sonic-related matters, much to his delight/chagrin.
Even when they have a massive failure like Concord they keep going up. It's scary. Imagine if they get Kadokawa's IP vault...
And they just announced 28 Years Later!
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