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Business
 

Sony shares hit 3-month high after Q1 profit beats estimates

Published on Aug 1, 2014 9:32 AM
 

TOKYO (Reuters) - Shares of Sony Corp jumped to a three-month high on Friday after the consumer electronics maker's quarterly operating profit unexpectedly doubled, helped by a strong performance in its games and networks division.

As of 8.10am Singapore time, the stock was up 4 per cent to 1,842 yen after rising as high as 1,880 yen, its highest since April 24.

After the market close on Thursday, the PlayStation 4 maker reported April-June operating profit of 69.8 billion yen (S$847 million), easily beating analyst expectations of 16.6 billion yen, though it also cut its full-year smartphone and TV sales forecasts.

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