Sony Jumps as Chips, Games Divisions Make Up for Movies Loss
- Struggling movie division weighs on full-year profit outlook
- PlayStation game console posts best-ever quarterly sales
Chief Executive Officer Kazuo Hirai is focusing on image sensors, games and entertainment to revive growth at Sony, which is projecting its first annual profit in three years.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Investors cheered a quick rebound at Sony Corp.’s semiconductor business and robust PlayStation sales, even as the Japanese electronics giant lowered its annual profit forecast because of a writedown at its movie division.
The shares jumped 5 percent in Tokyo on Friday, the biggest gain since Nov. 10, following gains in European and U.S. trading.