Sony is expected to record its best profit in two decades this week, which has caused the company's shares to surge. The firm's stock closed 3.84 per cent higher in Japan amid chatter that the organisation may be on the verge of reporting its strongest profit since 1998. The organisation recently indicated that its upcoming earnings report is likely to be significantly above expectations.
Ever since former PlayStation president Kaz Hirai took charge, the Japanese giant has been slowly recovering from a dismal period of loss after loss. The CEO has shrunk the business significantly, but the electronics icon is now much leaner and more focused as a result – and it's bearing the results at a spreadsheet level.
PlayStation is obviously going through a purple patch, but the firm's financial and semiconductor businesses are also thriving. The next great challenge for Hirai is reviving its movie sector, which is going through a torrid time. There were rumours that current PlayStation president Andrew House may be brought in to fix things, but a spokesperson denied those reports.