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)…
Revenue increased 12785.49% from $13.29 billion in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate has moved down from a profit of $1.03 to a profit of $0.46 over the last ninety days.