Sony shares skyrocket after the company announces partnership with Microsoft, share buyback

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Shares of Japanese conglomerate Sony surged in morning trade on Friday after the company announced the previous day a share buyback of more than $1 billion.

highlight that the next competitive dynamic of the games sector is centered on the cloud, " said Piers Harding-Rolls, a director and head of games research at IHS Markit. "Companies with access to cloud infrastructure, with a scaled and efficient service delivery capability are well positioned to succeed in this next wave of disruption in the games industry."

Harding-Rolls said the announcement was unlikely to have "any major industry or market impact in the short term."

 

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