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Sony Group Corporation SONY reported consistent net cash inflows for the second quarter of fiscal 2023 (GAAP) of ¥161. 74, up from ¥226. 54 a year ago. Adjusted net profit of 200. 1 billion yen, up from 281. 7 billion yen a year ago. Quarterly total cash increased 8% year-on-year to 2,828. 6 billion yen.
Sony Corporation Price-Consensus-Eps-Surprise Chart | Quote from Sony Corporation
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For the quarter under review, total prices and expenses amounted to 2,568. 6 billion yen, a year-on-year increase of 13. 6%. The operating source of revenue was 263 billion yen, down 29%.
For the six months ended September 30, 2023, Sony generated 115 billion yen in money from operating activities, up from 383. 3 billion yen used in operating activities in the year-ago period. As of September 30, 2023, the company had ¥1,626. 5 billion in money and money equivalents with ¥1,838 billion of long-term debt.
Sony has revised its outlook for the year ending March 31, 2024. It now forecasts earnings of 12. 4 trillion yen, up from 12. 2 trillion yen in the previous forecast. Overall functionality will most likely be boosted by strengthening sales momentum in the NG segments
Some top-ranked stocks worth contemplating in the broader technology area are Asure Software ASUR, Synopsys SNPS, and Cadence Design Systems CDNS. While Asure Software has the No. 1 Zacks rank (strong buy), Synopsys and Cadence have a Zacks rank of No. 2 (buy). You can see the full list of today’s No. 1 Zacks rank stocks here.
Zacks’ consensus estimate for Asure Software’s 2023 EPS has risen 5. 9% over the past 60 days to cents.
Asure Software’s earnings have beaten the Zacks consensus estimate over the past four quarters, with an average profit of 676. 4%. ASUR shares have soared 23. 5% over the past year.
The Zacks consensus estimate for Synopsys EPS for fiscal 2023 has held steady over the past 60 days at $11. 09. The NPS long-term earnings expansion rate is 16. 7%. SNPS shares are up 58. 9% over the past year.
Zacks’ consensus estimate for 2023 Cadence EPS has advanced 1 cent over the past 60 days to $5. 10.
Cadence’s earnings have exceeded the Zacks consensus estimate over the past 4 quarters, with an average gain of 4. 1%. CDNS shares are up 58. 4% over the past year.
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