Why Sony Corp. Shares Jumped 16.5% Higher Today
Shares of Sony (NYSE: SNE) jumped as much as 16.5% higher in Tuesday's trading, peaking at 11:25 a.m. EDT. The consumer electronics and media conglomerate reported second-quarter results in the early morning, smashing analyst expectations and driving Sony's share prices up to levels not seen since 2008.
Sony's second-quarter sales rose 22% year over year, landing at $18.3 billion. On the bottom line, unadjusted earnings rose from roughly breakeven to $0.90 per diluted share. Wall Street analysts would have settled for earnings of $0.54 per share on sales near $17.6 billion. Looking ahead, Sony raised its full-year revenue guidance by 2.4% while profit targets were boosted by approximately 30%.
Image source: Columbia Pictures.
Source: Fool.com
Sony Corp. ADR Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Sony Corp. ADR stock is not clear.
With a target price of 130 € there is a hugely positive potential of 83.1% for Sony Corp. ADR compared to the current price of 71.0 €.
