Sony Stock Rises Premarket After Raising Full Year Profit Forecast

Sony  (SNE) more than doubled its full year net income expectations to 73 billion yen while also forecasting operating income of $2.6 billion, 19% higher than its previous guidance. 

This would be the second consecutive year the company's operating income topped $2 billion, the longest streak it has had since 2001. 

The company credited strong performances across its business sectors and cost savings at its insurance unit as the reason for the more bullish outlook. Sony plans to release its full earnings report on April 28.

Sony shares were up nearly 4% premarket Friday. 

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)

If you liked this article you might like

5 Things You Should Know About Tech Giant Nvidia

5 Things You Should Know About Tech Giant Nvidia

These Stocks Are Showing Resiliency Amid the Market Selloff

These Stocks Are Showing Resiliency Amid the Market Selloff

Stocks Slide and Amazon's Profit Soars - 5 Things You Must Know

Stocks Slide and Amazon's Profit Soars - 5 Things You Must Know

Amazon, Apple and Everything Else You Need to Know Before You Trade Friday

Amazon, Apple and Everything Else You Need to Know Before You Trade Friday

AMD's Results and Guidance Provide Reasons for Cautious Optimism

AMD's Results and Guidance Provide Reasons for Cautious Optimism