Sony's shares closed up 8.7% in Tokyo on Friday after the technology and entertainment conglomerate reported strong results at its games and music divisions.

Sony’s shares closed up 8.7 percent in Tokyo on Friday after the technology and entertainment conglomerate reported strong results at its games and music divisions. Sony’s gaming unit reported a 37 percent jump in quarterly profit and PlayStation 5 sales of 9.

Sony Group Corp.’s stock climbed as much as 11% in Tokyo on Friday, the most since August, after the entertainment group raised its profit and revenue outlook on growing momentum for its entertainment businesses.

Sony shares popped after it raised its 2024 outlook for annual operating profit to 1.34 trillion yen ($876 billion), a 2% rise from the previous financial year.

Sony on Thursday raised its operating profit forecast for the year ending in March by 2% to 1.34 trillion yen ($8.70 billion) as it reported strong growth at its key gaming unit.