The actions of Sony Group Corp (NYSE:SONY) are higher today on reports of the PlayStation VR2 PC adapter launching on August 7th.
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The adapter, expected in February, will bring PC support to Sony’s PS5-exclusive headset, which launched a year ago.
The device will support all Steam VR games, including blockbusters like Half-Life: Alyx, The Verge reports.
Gamers will now need a DisplayPort cable to work with Steam titles on their PCs.
In May, Sony reported a 14% year-over-year sales increase to $23.49 billion in fourth-quarter fiscal 2023, beating consensus estimates of $19.20 billion. EPS of $1.04 beat consensus estimates by $0.79.
Sony sold 4.5 million PS5 units in the fourth quarter, down from 6.3 million a year ago.
The company pointed to slow sales of PlayStation 5 hardware and did not expect any major titles to launch this fiscal year. Sony expects PS5 sales of approximately 18 million units for fiscal 2024.
Meanwhile, recent reports have indicated that Paramount Global (NASDAQ:PARA) is considering Skydance’s bid to acquire National Amusements and merge, injecting $1.5 billion into Paramount and reducing its debt.
Sony shares suffered on concerns over its potential $26 billion bid for Paramount.
Sony shares have lost nearly 4% over the past 12 months. Investors can gain exposure to stocks via Avantis International Large Cap Value ETF (NYSE:AVIV) e Trust For Professional Managers ActivePassive International Equity ETF (NYSE:APIE).
Sony stock price
SONY shares were up 2.11% at $85.36 at last check on Tuesday.
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