Shares in the Sony Corp. rose today in Japan by 14 per cent, as the company posted better-than-expected growth. The profit growth, which pleased investors and resulted in the rise, was thanked mostly to the sales of flat-screen TVs.
Overall, net profit at Sony rose by 17.5% in the third quarter, compared with the same period last year, and the company raised its outlook for fiscal year 2005, which ends in Japan in March. Analysts are wary.
One analyst said: “It’s starting to take the first hop. It still needs to take another step, and it’s unclear when we’ll be able to say it’s the excellent company it used to be in the past.”
