Sony Share Price Increases Following PSN Press Conference

By Darryl Kaye on May 2, 2011, 10:14AM EST

Following a press conference yesterday about the PlayStation Network, which was hosted by Kaz Hirai, share prices of Sony Corp rose significantly for the first time since the breach became public knowledge.

During the conference, Sony detailed the "welcome back" package, which detailed what compensation would be rewarded to users of the PlayStation Network, while also detailing when services would be back online.

As a result, Sony's shares closed on 2,316 Yen, a rise of 2.5 percent and they will hope that this continues to rise. However, analysts believe this affair may have cost Sony over $615 million.

Source: Reuters

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