Why Sony Stock Is Soaring Today
Shares of (NYSE: SONY) are seeing strong bullish momentum in Thursday's trading. The Japanese tech giant's share price was up 6% as of 12:30 p.m. ET today and had been up as much as 9.4% earlier in the day.
Before the market opened this morning, Sony published results for the third quarter of its 2024 fiscal year, which ended Dec. 31. The company posted sales and earnings for the period that beat the average analyst estimates and raised its full-year guidance above its own targets and Wall Street's expectations.
Sony posted earnings per share of 61.82 yen ($0.41) on revenue of 4.4 trillion yen ($28.97 billion) in the third quarter of its current fiscal year. The average Wall Street forecast had called for per-share earnings of $0.30 on sales of $23.78 billion in the period.
Source Fool.com
