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Sony Surges After Increase in Forecast on Gaming Demand

  • Game sales led the company to outperform expectations again
  • CFO says to expect better sales than PS4 from loss-leading PS5
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Microsoft Targets Sony With New Xbox Series X and S
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Sony Corp. shares soared after the company raised its fiscal-year operating profit outlook by 13%, with a surge in video-game demand from home-bound consumers.

The forecast of 700 billion yen ($6.7 billion), up from a previous 620 billion yen, surpassed the average analyst expectation of 658.9 billion yen and precedes the PlayStation 5’s highly anticipated November debut. Sony’s stock climbed as much as 5.8% in Tokyo, their biggest intraday gain since March.