This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Sony raised its full-year net profit forecast after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors. Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and im ...

Sony Pictures Entertainment posted first quarter operating incoming of $73M, down over 36% year-on-year on a U.S. dollar basis. Revenues also slipped 7% from $2.32B to $2.17B for the three months ended June 30, 2024, despite the performances of films such as The Garfield Movie and Bad Boys: Ride or Die and growth in streaming subs. Overall, Tokyo-based Sony pointed to a reduced number of theatrical releases and new TV season launches for the financial drops, but noted anime streamer Crunchyroll had swelled ...

Sony reported a 10% jump in operating profit in the fiscal first quarter, beating analyst expectations. Here's how Sony did in the June quarter versus LSEG consensus estimates: Revenue: 3.01 trillion yen ($20.5 billion) versus 2.8 trillion yen expected. That marked a 2% rise from the same period a year ago. Operating profit: 279.11 billion yen versus 275.35 billion yen expected. That was up 10% year-over-year. It comes after the Japanese consumer electronics power house reported a disappointing full-year 20 ...

Muted consumer discretionary spending amid weak global macroeconomic conditions is a concern for the Zacks Audio Video Production industry participants. A highly-promotional environment and stiff competition from importers of comparatively low-priced devices are denting margins. Online accessibility of recording equipment and the availability of distribution channels on the Internet are additional headwinds. Nonetheless, industry participants are concentrating on the premium segment of the branded products ...

Sony (NYSE:SONY) layoffs are in the news Friday as the PlayStation parent company is cutting jobs at video game development studio Bungie. Bungie is the original developer of the Halo series and is currently working on Destiny 2 and its expansions. The latest update has CEO Pete Parsons confirming that 220 of its staff are being cut. That represents roughly 17% of its total workforce. Parsons cites a few reasons why the game development studio is cutting jobs. That includes rising costs of development, chan ...

Many companies have performed stock splits this year as the bull market continues to run. Some notable companies that have pursued stock splits this year include Nvidia, Broadcom, Walmart, and Chipotle Mexican Grill. Sony is in the midst of a turnaround On the surface, divesting non-core assets may be seen as a risk due to the complex nature and time consumption of these transactions. I'd argue that Sony is simply in the middle of a turnaround, and has identified areas that are no longer pertinent to the lo ...

The investment community will be closely monitoring the performance of Sony in its forthcoming earnings report. The company is predicted to post an EPS of $1.08, indicating a 15.63% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $17.42 billion, indicating a 4.68% growth compared to the corresponding quarter of the prior year. Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections ...

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% lower. Sony currently has a Zacks Rank of #3 (Hold). In terms of valuation, Sony is currently trading at a Forward P/E ratio of 17.14. This expresses a discount compared to the average Forward P/E of ...

Valuation is also important, so investors should note that Sony has a Forward P/E ratio of 14.8 right now. This denotes a discount relative to the industry's average Forward P/E of 21.16. Shares of the electronics and media company have appreciated by 5.62% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 2.11% and the S&P 500's gain of 3.38%. The investment community will be closely monitoring the performance of Sony in its forthcoming earnings report. The compan ...

Over the past month, shares of this electronics and media company have returned +5.6%, compared to the Zacks S&P 500 composite's +3.4% change. During this period, the Zacks Audio Video Production industry, which Sony falls in, has gained 2.5%. The key question now is: What could be the stock's future direction? Earnings Estimate Revisions Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When ...