Sony sees stock gains

via Games Industry


Sony Corporation, which released its latest financial results yesterday, saw its share prices rise as a result of strong revenues - but that was without any help from the company's games division.

As reported yesterday the section responsible for the PlayStation operation saw losses double from the same period last year, but strong performances from Bravia LCD televisions and Cyber-Shot cameras saw a 21 per cent increase on the Electronics' divison sales and operating revenue, and a massive 1,232 per cent jump in operating income.

This meant that despite continuing difficulties principally associated with the cost of manufacturing PlayStation 3 consoles, investors were happy to back Sony.

At the close of the Tokyo Stock Exchange this morning the company's share price had jumped nine per cent on the previous day, standing at JPY 5560 (USD 48.6).

However, that's still a far cry from Nintendo's share price, which was actually down three per cent by the close, but still stood at JPY 67,800 (USD 592) - although Sony has over seven times more issued shares than Nintendo.