Sony Doubles Its Fourth-Quarter Profits

Sony Group Corp. announced that its fourth-quarter operating profit more than doubled to $1.06 billion. The company benefited from PS5 console sales as well as its gaming and network services. Sony has shipped nearly 20 million consoles since its 2020 launch, quite impressive considering the semiconductor shortage ravaging the tech industry.

The company’s substantial gains were also aided by the success of Spider-Man: No Way Home, which as of this writing, has boxed over $1.8 billion since its December 2021 release.

Sony has said that it plans to expand its software business following last February’s acquisition of Bungie for $3.6 billion.

(All information was provided by CNA)

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