Why Sony Stock Leveled Up Today

Shares of Sony (NYSE: SNE) surged on Wednesday after the electronics giant reported fiscal third-quarter results that beat expectations, largely due to the strength of its gaming business. The company also raised its outlook for the full fiscal year. Sony stock was up about 10% at 10:50 a.m. EST.

Sony reported third-quarter revenue of 2,695.5 billion yen, or about $25.6 billion, up 9% year over year and ahead of the average analyst estimate of $24.8 billion. Net income soared 62% to 371.9 billion yen, or $3.5 billion.

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Source Fool.com