Shares in Sony jumped almost 10 percent in early trade Thursday after the struggling electronics giant revised earnings outlooks upward.
Sony opened at 3,040.0 yen on the Tokyo Stock Exchange, up 9.79 percent from Wednesday's close, with buying bids overwhelming sell offers.
After the Tokyo market closed on Wednesday Sony announced it now expects to lose 170 billion yen ($1.4 billion) in its fiscal year to March, down by more than a quarter from an earlier estimate.
It also projected an operating profit of 20 billion yen in a turnaround from a loss of 40 billion yen forecast in October.
A weak yen helped Sony's third-quarter results as net profit more than tripled to an estimated 89 billion yen, while sales grew 6.1 percent to 2.55 trillion yen.
The company said its smartphone and PlayStation console businesses picked up in the October-December quarter while restructuring costs shrank.
Sony published the estimates Wednesday after earlier saying it would delay its finalised numbers following a cyberattack at its Hollywood film unit -- linked to satirical film "The Interview", about an assassination attempt on North Korean leader Kim Jong-Un -- compromised "a large amount of data".
On Wednesday, it said that investigating the attack and fixing the problems at Sony Pictures Entertainment would cost at least $35 million, but added that it would not have a significant impact on earnings.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor