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Here's What to Expect Ahead of SONY's Q2 Earnings Release
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Sony Group Corporation (SONY - Free Report) is scheduled to report second-quarter fiscal 2023 results on Nov 9.
The Zacks Consensus Estimate for earnings is pegged at $1.19 per share, indicating a decrease of 22.7% on a year-over-year basis. The consensus estimate for revenues is pegged at $19.93 billion, remaining almost in line with the prior-year levels.
The company surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 38.2%. In the past year, the stock has risen 13.8% compared with the sub-industry’s growth of 12.9%.
Image Source: Zacks Investment Research
Factors to Note
The Japan-based company is likely to have gained from momentum in the Game & Network Services (G&NS), and Music segments.
The G&NS segment is likely to have been aided by higher sales of hardware (PlayStation 5) and peripheral devices. In the last reported quarter, segmental sales were up 28% year over year to ¥771.9 billion. Positive impacts of forex movement, higher sales of first-party titles and improving hardware sales resulted in the uptick.
However, increasing costs are likely to be headwinds for segmental margin expansion in the quarter under review.
The Music segment is likely to have benefited from a rise in sales of recorded music and improved revenues from paid subscription streaming.
The Pictures segment is expected to have been affected due to negative impacts of strike conducted by WGA and SAG-AFTRA. This is likely to delay release dates for some theatrical movie releases in Motion Pictures and deliveries of television series in Television Productions.
The Imaging & Sensing Solutions segment is likely to bear the brunt of decreasing unit sales of image sensors for mobile products as well as lower unit sales of image sensors for industrial and social infrastructure verticals.
Lower sales of televisions are likely to have weighed on the Electronics Products & Solutions segment in the quarter under discussion.
Uncertainty prevailing over global macroeconomic conditions is likely to have been another headwind.
What Our Model Says
Our proven model does not conclusively predict 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 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
The Zacks Consensus Estimate for WMT’s to-be-reported quarter’s earnings and revenues is pegged at $1.50 per share and $159.1 billion, respectively. The stock has risen 15.3% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +3.22% and a Zacks Rank #2. TJX is set to post third-quarter fiscal 2024 results on Nov 15.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 97 cents per share and $13.05 billion, respectively. Shares of TJX have gained 27.3% in the past year.
Ross Stores, Inc (ROST - Free Report) has an Earnings ESP of +2.40% and carries a Zacks Rank #2. ROST is slated to release third-quarter 2023 numbers on Nov 16.
The Zacks Consensus Estimate for ROST’s to-be-reported quarter’s earnings and revenues is pegged at $1.21 per share and $4.83 billion, respectively. Shares of ROST have increased 31.7% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Here's What to Expect Ahead of SONY's Q2 Earnings Release
Sony Group Corporation (SONY - Free Report) is scheduled to report second-quarter fiscal 2023 results on Nov 9.
The Zacks Consensus Estimate for earnings is pegged at $1.19 per share, indicating a decrease of 22.7% on a year-over-year basis. The consensus estimate for revenues is pegged at $19.93 billion, remaining almost in line with the prior-year levels.
Sony Corporation Price and EPS Surprise
Sony Corporation price-eps-surprise | Sony Corporation Quote
The company surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 38.2%. In the past year, the stock has risen 13.8% compared with the sub-industry’s growth of 12.9%.
Image Source: Zacks Investment Research
Factors to Note
The Japan-based company is likely to have gained from momentum in the Game & Network Services (G&NS), and Music segments.
The G&NS segment is likely to have been aided by higher sales of hardware (PlayStation 5) and peripheral devices. In the last reported quarter, segmental sales were up 28% year over year to ¥771.9 billion. Positive impacts of forex movement, higher sales of first-party titles and improving hardware sales resulted in the uptick.
However, increasing costs are likely to be headwinds for segmental margin expansion in the quarter under review.
The Music segment is likely to have benefited from a rise in sales of recorded music and improved revenues from paid subscription streaming.
The Pictures segment is expected to have been affected due to negative impacts of strike conducted by WGA and SAG-AFTRA. This is likely to delay release dates for some theatrical movie releases in Motion Pictures and deliveries of television series in Television Productions.
The Imaging & Sensing Solutions segment is likely to bear the brunt of decreasing unit sales of image sensors for mobile products as well as lower unit sales of image sensors for industrial and social infrastructure verticals.
Lower sales of televisions are likely to have weighed on the Electronics Products & Solutions segment in the quarter under discussion.
Uncertainty prevailing over global macroeconomic conditions is likely to have been another headwind.
What Our Model Says
Our proven model does not conclusively predict 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 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
Walmart (WMT - Free Report) has an Earnings ESP of +1.02% and a Zacks Rank #2. WMT is scheduled to report third-quarter fiscal 2024 earnings on Nov 16. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for WMT’s to-be-reported quarter’s earnings and revenues is pegged at $1.50 per share and $159.1 billion, respectively. The stock has risen 15.3% in the past year.
The TJX Companies, Inc (TJX - Free Report) has an Earnings ESP of +3.22% and a Zacks Rank #2. TJX is set to post third-quarter fiscal 2024 results on Nov 15.
The Zacks Consensus Estimate for TJX’s to-be-reported quarter’s earnings and revenues is pegged at 97 cents per share and $13.05 billion, respectively. Shares of TJX have gained 27.3% in the past year.
Ross Stores, Inc (ROST - Free Report) has an Earnings ESP of +2.40% and carries a Zacks Rank #2. ROST is slated to release third-quarter 2023 numbers on Nov 16.
The Zacks Consensus Estimate for ROST’s to-be-reported quarter’s earnings and revenues is pegged at $1.21 per share and $4.83 billion, respectively. Shares of ROST have increased 31.7% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.