Sony Reaches 22-Month High as Analysts Predict Record Profit
- CEO Kazuo Hirai’s turnaround effort seen nearly complete
- Game sales, demand for phones with dual cameras fueling growth
Kenichiro Yoshida Photographer: Akio Kon/Bloomberg
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Sony Corp. shares jumped to their highest since May 2015 after a bullish earnings report triggered analyst predictions that the electronics maker could achieve record profit this year.
The Tokyo-based company rose 3 percent to 3,873 yen at the close in Tokyo on Monday after forecasting operating profit of 500 billion yen ($4.5 billion) for the fiscal year through March 2018, thanks to continued dominance in gaming and strong growth in phone-camera chips.