Sony Corp (ADR) (SNE) Stock Surges on Strong Profit

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Sony Corp (ADR) (NYSE:SNE) stock was having a good day Tuesday with strong profit for its fiscal second quarter of 2017.

Sony Corp (ADR) reported operating income of 204.20 billion in Japanese yen. This represents a 346.4% increase over its operating income of 45.70 billion yen from the same time last year.

The strong operating income in Sony Corp (ADR)’s fiscal second quarter of 2017 was due to a couple of segments performing incredibly well. The first of these was SNE’s Game & Network Services. It reported operating income of 54.8 billion Japanese yen for the quarter, which is up 188% from the same period of the year prior.

Sony Corp (ADR) also saw a strong growth to operating income from its Semiconductor division during the quarter. Operating income for the fiscal second quarter of 2017 was 49.4 billion Japanese yen. This is much better than the operating loss of 4.2 billion yen from the same quarter in the previous year.

Sony Corp (ADR)’s also saw modest growth from its Imaging Products & Solutions, Home Entertainment & Sound, Pictures, Music and Financial Services divisions during the quarter. The only segment to see its operating income decline was Mobile Communications.

During its fiscal second quarter of 2017, Sony Corp (ADR) reported earnings per share of 90 cents. This is a massive increase over its earnings per share of 4 cents from the fiscal second quarter of 2016. It also beat out Wall Street’s earnings per share estimate of 54 cents for the quarter.

SNE stock was up 14% as of noon Tuesday and is up 59% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/sony-corp-adrsne-stock/.

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