Sony Surges to 20-Year High as IPhone, Games Spur Outlook Hike

Company sold 4.5 million PlayStation 5 consoles in 2020
Added 1.5 million PlayStation Plus subscribers in the quarter

WATCH: Sony surges to a 20-year high after it boosted its profit outlook on the back of stronger than expected holiday quarter results. Edwin Chan reports.(Source: Bloomberg)

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By Takashi Mochizuki

February 3, 2021 at 6:11 AM UTC

Updated on

February 4, 2021 at 12:45 AM UTC

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Sony Corp. surged to a 20-year high after raising its annual operating income outlook by 34%, banking on robust games sales and Apple Inc.’s iPhone 12.

The Tokyo-based company now expects to make 940 billion yen ($8.9 billion) in the fiscal year ending March, up from 700 billion previously. It’s forecasting a pickup in divisions spanning pictures, music and games as well as its imaging unit providing camera sensors for iPhones and other devices.