Sony posted a new 20-year high after its operating income rose 34% year-over-year for the last quarter. Great sales of game consoles and image sensors for the iPhone are cited as the main reasons.
The Japanese tech giant expects operating income of about $ 8.9 billion for the full fiscal year ending March 31, 2021.
Following the release of this information, the company’s shares jumped 10.4%, posting the highest gain since May 2019. An important aspect of the skyrocketing profit projection is the recently released Sony PlayStation 5 game console. Despite supply problems, the company expects to ship 7.6 million consoles by the end of March 2021.
The company also expects that figure to reach 14.8 million units or more by the end of the next fiscal year. Sony is faced with high demand, the situation is complicated by production problems due to a shortage of components. The company’s CFO added that Sony “is doing everything possible to ship as many units as possible in the shortest possible time.”
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