Sony's Game Business Transformation: Enhanced Margins and Strategic Initiatives Support Buy Rating
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Sony Shares Hit Record High on Gaming and Entertainment Prospects
Sony Group's (SONY) stock price has reached a new high in over twenty years, and the market is bullish on its entertainment business.
Sony Group's stock price closed at a new high, as the market becomes increasingly bullish on its gaming division and other entertainment businesses. On Tuesday, the stock closed at 3,338 yen, up 4.1%, surpassing the record closing price of 3,260 yen set in 2000. After announcing strong performance for the three months ended in September, Sony's stock price has been rising significantly in recent weeks. Last month, Sony reported a 69% increase in quarterly net income, reaching 338.5 billion yen, driven by strong gaming business. Thanks to increased sales of software and network services, as well as improved hardware profitability, the operating profit of its gaming business more than doubled. The company is
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