Sony Group's (SONY, Financial) stock reached a record high, closing 4.1% up at 3,338 yen. This surpasses the previous peak of 3,260 yen set in 2000. The surge follows strong quarterly results ending in September, with net profit rising 69% to 338.5 billion yen ($2.24 billion), driven by robust growth in its gaming sector. Increased sales in software and network services, alongside improved hardware profitability, more than doubled the gaming division's operating profit.
Sony has raised its revenue forecast for the fiscal year ending March 2025, anticipating further gaming revenue growth. The company has invested billions in acquisitions to enhance entertainment content and plans to spin off its insurance and online banking units by 2025 to focus on core entertainment operations.
