Sony is expected to record its best profit in two decades this week, which has caused the company's shares to surge. The firm's stock closed 3.84 per cent higher in Japan amid chatter that the organisation may be on the verge of reporting its strongest profit since 1998. The organisation recently indicated that its upcoming earnings report is likely to be significantly above expectations.
Ever since former PlayStation president Kaz Hirai took charge, the Japanese giant has been slowly recovering from a dismal period of loss after loss. The CEO has shrunk the business significantly, but the electronics icon is now much leaner and more focused as a result – and it's bearing the results at a spreadsheet level.
PlayStation is obviously going through a purple patch, but the firm's financial and semiconductor businesses are also thriving. The next great challenge for Hirai is reviving its movie sector, which is going through a torrid time. There were rumours that current PlayStation president Andrew House may be brought in to fix things, but a spokesperson denied those reports.
[source cnbc.com]
Comments 5
Excellent tagline
I came for the tagline but stayed for the article.
I am more than happy to take over the movie side of the business. I have a wealth of film ideas just itching to get made. All hard R, all involving puppets. I shall just sit here and wait for the call.
In kaz we trust
I really don't understand why Sony pictures continue to fund some of the awful movies they push out year after year when it's clear they are going to bomb at the box office
its a story in its self why Sony fell as much as thay did, which is mostly down to banks again in Japan. The Japanese asset price bubble collapse within the Japanese economy was that bad it even has its own name, The Lost 20 Years.
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