Sony Earnings: Here’s Why Shares are Up Now
Sony Corporation (NYSE:SNE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.61%.
Sony Corporation Earnings Cheat Sheet
Revenue: Rose 8917.67% to $1712 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sony Corporation reported adjusted EPS income of $2.98 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $81.02 billion.
Quoting Management: “It was a so-so quarter,” Chief Financial Officer Masaru Kato said, as the entertainment and financial businesses did well, and the struggling electronics unit was showing signs of improvement. “We think the first quarter is a good indicator that we are going in the right direction.”
Key Stats (on next page)…