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Sony (NYSE: SONY) shares soared 9% in Tokyo on Friday following strong earnings from its gaming and music divisions. The company’s PlayStation 5 saw impressive sales of 9.4 million units during the holiday season, driving a 37% surge in quarterly profit for its gaming unit.
Analysts highlighted PlayStation’s dominance in the high-performance console market, with robust software sales despite the absence of major new releases. Jefferies analyst Atul Goyal noted that game margins still have significant growth potential.
Beyond gaming, Sony’s music division also delivered strong profits, helping to counterbalance weakness in its pictures segment. Investors remain optimistic as Sony prepares for new game releases that could further boost demand.
Sony also announced a share buyback program, planning to repurchase up to 30 million shares for approximately 50 billion yen. Additionally, President Hiroki Totoki will take over as CEO in April, a move expected to influence the company's strategic direction.
With strong PlayStation sales, expanding software revenue, and growth in its music business, Sony continues to solidify its position in the tech and entertainment industries.
