This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sony Returns to Annual Profit: Ahead of the Ticker

NEW YORK ( TheStreet) -- Sony (SNE - Get Report) swung to its first annual profit in five years, boosted by a weaker yen, sales of assets and success at the box office.

The electronics giant reported profit of $948 million for its fiscal fourth quarter. It reported annual earnings that rose to $434 million for the fiscal year ended March 31, up from a loss of $5.7 billion a year ago. Its annual earnings beat its own forecast for a profit of $404 million, as well as analysts' expectations for a profit of $333 million, according to FactSet.

Sony's movie unit reported a 40% increase in operating profit to $484 million for the full year on the success of films like "Skyfall" and "The Amazing Spider-Man," which helped offset the weaker "Total Recall" at the box office.

The company continues to see weakness, however, in its device, digital camera and game sectors. Its games unit saw a 12.2% drop in sales to $7.15 billion and a 94% drop in operating profit to $17.2 million on slipping demand on PlayStation-related products.

For the current fiscal year, ending in March 2014, Sony said it expects a net profit of $506 million and an operating profit of $2.3 billion.

Nokia (NOK - Get Report) unveiled a $99 smartphone available in emerging markets.

The phone maker announced the Nokia Asha 501, a smartphone with a 3-inch screen, 3.2-megapixel camera and 17 hours of talk time. The company said the phone has 4 gigabytes of memory, which can be expanded to 32 gigabytes.

Nokia also revealed the software the phone will run on, which is called the Asha platform. It is a revamped version of older software which, like Nokia's higher-end Lumia smartphone, allows users to swipe from side to side in order to use multiple applications at once. An agreement with Facebook (FB - Get Report) and Indian wireless carrier Bharti Airtel will enable Asha users in India and Africa to access the social network without incurring data fees.

Nokia plans to begin selling the device for $99 plus taxes and subsidies by June in 90 countries.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GMCR $91.67 -0.30%
AAPL $93.74 0.00%
FB $117.58 0.00%
NOK $5.87 0.00%
SNE $24.10 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs