We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SONY Gears Up to Report Q1 Earnings: Here's What to Expect
Read MoreHide Full Article
Sony Group Corporation (SONY - Free Report) is scheduled to report first-quarter fiscal 2023 results on Aug 9.
The Zacks Consensus Estimate for earnings is pegged at 94 cents per share, indicating a decrease of 30.4% on a year-over-year basis. The consensus estimate for revenues is pegged at $18.62 billion, suggesting an improvement of 4.3% from the prior-year quarter’s levels.
The company surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 33.6%. In the past year, the stock has gained 6.3% compared with the sub-industry’s increase of 4.1%
Image Source: Zacks Investment Research
Factors to Note
The Japan-based company is likely to have gained from momentum seen in the Game & Network Services (G&NS), Music and Pictures segments. Our estimate for the G&NS, Music and Pictures segments’ revenues for fiscal first quarter is pegged at ¥671.1 billion, ¥337.9 billion and ¥391.8 billion, respectively.
The G&NS segment is likely to have been aided by higher sales of hardware (PlayStation 5) and peripheral devices. In fiscal 2022, segmental sales were up 33% owing to the positive impact of forex movement, first-party titles and improving hardware sales. In the fiscal 2022, SONY sold 19.1 million units of Play Station 5. In the last reported quarter, sales were up 61.3% year over year to ¥1073.2 billion.
Improvement in hardware profitability, positive impact of foreign exchange rates and higher sales of peripheral devices are likely to have boosted operating income for the segment. However, increasing costs and lower sales of first-party titles are likely to prove as headwinds.
The Music segment is likely to have benefited from a rise in sales of recorded music and increased revenues from paid subscription streaming.
The Pictures segment is expected to have benefited from positive impacts of the acquisitions of Bad Wolf, Industrial Media and Crunchyroll. Higher sales of image sensors for mobile products are also likely to drive the Imaging & Sensing Solutions segment’s revenues.
However, uncertainty prevailing over global macroeconomic conditions may have weighed on the to-be-reported quarter’s performance. Lower revenues from the Financial Services segment continues to be a major concern.
Lower sales of televisions are likely to have weighed on the Electronics Products & Solutions segment in the quarter under discussion.
What Our Model Says
Our proven model predicts an earnings beat for Sony this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Sony has an Earnings ESP of +2.66% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other stocks that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
The Zacks Consensus Estimate for CACI’s to-be-reported quarter’s earnings and revenues is pegged at $4.85 per share and $1.72 billion, respectively. Shares of CACI have surged 25.3% in the past year.
Jack in the Box Inc (JACK - Free Report) has an Earnings ESP of +0.60% and presently has a Zacks Rank #2. JACK is set to report third-quarter fiscal 2023 earnings on Aug 9.
The Zacks Consensus Estimate for JACK’s to-be-reported quarter’s earnings and revenues is pegged at $1.33 per share and $393.5 million, respectively. Shares of JACK have increased 24.1% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +0.40% and presently carries a Zacks Rank #2. TJX is slated to release second-quarter fiscal 2024 numbers on Aug 16.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 76 cents per share and $12.4 billion, respectively. Shares of TJX have soared 34.2% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
SONY Gears Up to Report Q1 Earnings: Here's What to Expect
Sony Group Corporation (SONY - Free Report) is scheduled to report first-quarter fiscal 2023 results on Aug 9.
The Zacks Consensus Estimate for earnings is pegged at 94 cents per share, indicating a decrease of 30.4% on a year-over-year basis. The consensus estimate for revenues is pegged at $18.62 billion, suggesting an improvement of 4.3% from the prior-year quarter’s levels.
The company surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 33.6%. In the past year, the stock has gained 6.3% compared with the sub-industry’s increase of 4.1%
Image Source: Zacks Investment Research
Factors to Note
The Japan-based company is likely to have gained from momentum seen in the Game & Network Services (G&NS), Music and Pictures segments. Our estimate for the G&NS, Music and Pictures segments’ revenues for fiscal first quarter is pegged at ¥671.1 billion, ¥337.9 billion and ¥391.8 billion, respectively.
The G&NS segment is likely to have been aided by higher sales of hardware (PlayStation 5) and peripheral devices. In fiscal 2022, segmental sales were up 33% owing to the positive impact of forex movement, first-party titles and improving hardware sales. In the fiscal 2022, SONY sold 19.1 million units of Play Station 5. In the last reported quarter, sales were up 61.3% year over year to ¥1073.2 billion.
Sony Corporation Price and EPS Surprise
Sony Corporation price-eps-surprise | Sony Corporation Quote
Improvement in hardware profitability, positive impact of foreign exchange rates and higher sales of peripheral devices are likely to have boosted operating income for the segment. However, increasing costs and lower sales of first-party titles are likely to prove as headwinds.
The Music segment is likely to have benefited from a rise in sales of recorded music and increased revenues from paid subscription streaming.
The Pictures segment is expected to have benefited from positive impacts of the acquisitions of Bad Wolf, Industrial Media and Crunchyroll. Higher sales of image sensors for mobile products are also likely to drive the Imaging & Sensing Solutions segment’s revenues.
However, uncertainty prevailing over global macroeconomic conditions may have weighed on the to-be-reported quarter’s performance. Lower revenues from the Financial Services segment continues to be a major concern.
Lower sales of televisions are likely to have weighed on the Electronics Products & Solutions segment in the quarter under discussion.
What Our Model Says
Our proven model predicts an earnings beat for Sony this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Sony has an Earnings ESP of +2.66% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other stocks that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat this season.
CACI International (CACI - Free Report) has an Earnings ESP of +2.36% and currently caries a Zacks Rank #2. CACI is scheduled to report fourth-quarter fiscal 2023 earnings on Aug 9. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CACI’s to-be-reported quarter’s earnings and revenues is pegged at $4.85 per share and $1.72 billion, respectively. Shares of CACI have surged 25.3% in the past year.
Jack in the Box Inc (JACK - Free Report) has an Earnings ESP of +0.60% and presently has a Zacks Rank #2. JACK is set to report third-quarter fiscal 2023 earnings on Aug 9.
The Zacks Consensus Estimate for JACK’s to-be-reported quarter’s earnings and revenues is pegged at $1.33 per share and $393.5 million, respectively. Shares of JACK have increased 24.1% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +0.40% and presently carries a Zacks Rank #2. TJX is slated to release second-quarter fiscal 2024 numbers on Aug 16.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 76 cents per share and $12.4 billion, respectively. Shares of TJX have soared 34.2% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.