4 Reasons Sony's Stock Could Still Head Higher
Sony's (NYSE: SNE) stock recently hit a 20-year high after its second-quarter earnings beat expectations and it raised its full-year outlook.
The Japanese conglomerate's revenue fell 0.4% year-over-year to 2.11 trillion yen ($19.9 billion), but beat estimates by 177.3 billion yen. It attributed that decline to pandemic-related headwinds at Sony Pictures, which largely offset the robust growth of its gaming business.
Sony's net income surged 145% to 459.6 billion yen ($4.3 billion), or 367.82 yen per share, which beat estimates by 288.44 yen. It attributed that stunning earnings growth to higher operating profits at its gaming, music, and consumer electronic segments, which offset a profit decline at its cyclical image sensor business.
Source Fool.com
