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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

(6758)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 01/21
10605 JPY   +0.14%
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Sony : Annual Profit Forecast Up by 13% Following Impressive Q2 Gaming Performance

11/09/2020 | 11:40am EST

According to Sony Corp's earnings report for the quarter ended September 2020, its PlayStation revenue totaled 507 billion yen ($4.9 billion). The game segment's operating profit was 105 billion yen ($1 billion), up by 40% year-over-year (YoY).

Based on the research data analyzed and published by Safe Betting Sites, part of the reason behind this was an increase in Playstation Plus subscribers. GamesIndustry.biz reported that the number of subscribers was 41.5 million in May 2020. It had risen to 45.9 million by the end of October 2020 according to Euro Gamer.

Sony Targets $25 Billion in Gaming Revenue by April 2021, 7.6M Unit Sales

Sony's gaming revenue was also boosted by an increase in its digital game sales. These accounted for 59% of all its gaming sales during the quarter, up from 55% the year before.

During the quarter, Sony's top PS4 release was Ghost of Tsushima. It sold 2.4 million units in the first three days of its launch in July 2020. Within its first month of release, the title sold 1.9 million digital units. According to The NPD Group, it was the best-selling software title in the US in July 2020. Following its release, the title instantly became the fifth best seller in 2020 in the US.

Moreover, Sony revised its profit forecast for the fiscal year upwards to 700 billion yen ($6.7 billion), 13% higher than the previous outlook. It expects to generate 2.6 trillion yen ($24.9 billion) in revenue from its gaming segment by end of March 2021. Its target profit from the gaming segment within the same period totals 300 billion yen ($2.9 billion). To achieve that, it targets 7.5 million PS5 console unit sales.

Sony sold as many consoles during the first 12 hours of PS5's pre-order as it did in the first 12 weeks of PS4. When it launches on November 12, 2020, the console's high-end version will sell at $500. However, on the online black market, the PS5 is selling at a 59% markup, averaging $871.

The full story, statistics and information can be found here: https://www.safebettingsites.com/2020/11/09/sonys-annual-profit-forecast-up-by-13-following-impressive-q2-gaming-performance/

Contact: Nica San Juan

SafeBettingSites.com

St. Magnus House

3 Lower Thames Str

London

EC3R 6HE

janica@finixio.com

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2021 8 550 B 82 566 M 82 566 M
Net income 2021 801 B 7 740 M 7 740 M
Net cash 2021 2 492 B 24 066 M 24 066 M
P/E ratio 2021 16,1x
Yield 2021 0,47%
Capitalization 13 112 B 127 B 127 B
EV / Sales 2021 1,24x
EV / Sales 2022 1,13x
Nbr of Employees 111 700
Free-Float 97,7%
Chart SONY CORPORATION
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Sony Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 11 891,50 JPY
Last Close Price 10 605,00 JPY
Spread / Highest target 41,4%
Spread / Average Target 12,1%
Spread / Lowest Target -20,8%
EPS Revisions
Managers and Directors
NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Chief Technology Officer & EVP
Makoto Toyoda Chief Information Officer & Executive Officer
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