Sony’s profits exceed expectations
Thanks to COVID-19, Sony’s profits in the first quarter was nearly twice as high as analysts expected. Most projected around 137 billion yen in profits, but Sony just reported operating profits of no less than 228 billion yen ($2.15 billion).
Sony plans to spend 100 billion yen buying back 1.64% of its shares, and is offering a conservative forecast for the rest of the year since the long-term consequences of the on-going pandemic remain unclear.
- 3.4 million new PlayStation Plus subscribers, the largest single-quarter increase in the service’s history
- The Last of Us Part II and Ghost of Tsushima sold over 6.4 million copies in their first three days
Next-gen news: Expect more PlayStation 5 news this month. There won’t be any next-gen revelations in this week’s State of Play, but Bloomberg expects more announcements soon.