Shares of Sony 📈 are up more than 6% and reassessing the

Shares of Sony 📈 are up more than 6% and reassessing the purchase of Paramount Global! 🎬

Company Sony Corporation is a global technology and entertainment conglomerate headquartered in Tokyo. Sony is known for its broad portfolio of products and services, including consumer electronics, game consoles (especially PlayStation 🎮), music and movies. Sony is a pioneer in innovation, with products such as televisions, cameras and audio equipment being recognised for their quality and reliability. The company is also committed to the development of new technologies, including artificial intelligence and robotics, strengthening its position as a global market leader.

Results were announced today by Sony $SONY.📊 The company reported total revenue of$18.98 billion, below analysts' estimates of$19.06 billion. However, this is an increase in revenue o 14 % year-over-year. Further, it reported earnings per share of USD 0.82, beating analysts' estimate ofUSD 0.67.

The company forecasts lower sales of its console PlayStation 5. In other news, the stock split at a ratio of 5 to 1 and the announcement of a share buyback of 1.6 billion dollars. 💵

Shares of Paramount Global $PARAdrop📉 by more than 5 %after Sony announced it was re-evaluating its bid to buy the U.S. media company. Sony owns more than 3,500 films in its Sony Pictures division . 🎥