Sony Corp (ADR) (SNE) Stock up 3% After Company Announces They Sold 5.7 Million Playstation 4s During Holidays


Shares of Sony Corp (ADR) (NYSE:SNE) stock are up big today after the company released some numbers concerning their Playstation 4 sales. During the holiday season, they sold over 5.7 million units of their latest gaming console, a staggering number to say the least.

Sony Corp.’s (ADR) (NYSE:SNE) latest sales numbers show that they have now sold over 35.9 million Playstation 4 units worldwide, making them the “king of the hill” when it comes to this current generation of game consoles.

Additionally Sony Corp (ADR) (NYSE:SNE) announced that they saw a 60 percent increase in the number of Playstation Plus new subscribers when compared to the same time frame last year.

The stock increased 2.99% or $0.74 on January 5, hitting $25.47. About 3.04M shares traded hands or up 181.48% from the average. SNE has declined 19.71% since June 1, 2015 and is currently downtrending. It has underperformed the S&P500 by 15.02%.

From a total of 2 analysts covering Sony Corp (NYSE:SNE) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. Sony Corp was the topic of 3 analyst reports since August 16, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on September 4 with a “Buy” rating. JP Morgan maintained SNE stock in a recent report from August 16 with a “Overweight” rating.

Sony Corporation is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. The company has a market cap of $31.17 billion. The Company’s divisions include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It has 36.56 P/E ratio. The Company’s manufacturing facilities are located in Asia, including Japan.