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Sony's Got Game Once Again

Shares of the electronics giant hit a five-year high on a soaring profit forecast thanks in part to shrinking PlayStation 3 losses

Sony (SNE) shares touched a five-year peak on Thursday, a day after the company forecast profits would surge sixfold this fiscal year. The gains suggested that investors had shrugged off bad news that the company's video game unit failed to reach its sales target of 6 million units for its brand-new PlayStation 3 console.

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businessweek.com
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nice_cuppa3533d ago

i could be wrong but im sure thats what i read !

Blackmoses3533d ago

but Sony is more than just the PS3 and thier sales on HD sets has been crazy this year. Although they have some losses in the first quarter for the gamming division, the future is what they are speculating the money will start to increase.

If every company, big or small just packed it in after a bad first quarter of sales, then we wouldn't have half the multi-billion dollar buisnesses as we do.

weekapaugh3533d ago (Edited 3533d ago )

it hit 56.09 on 5/16. the article was released on 5/17.

tehcellownu3533d ago

they are makin billions on other products..sony isnt just investing on the ps3..so they are not goin anywhere anytime soon..sorry

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