Why Sony (sne) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Sony Corp. are up 2.97% to $18.05 in pre-market trade after the company reported an unexpected first quarter profit as the PlayStation 4 topped sales for game consoles and the "Amazing Spider-Man" rejuvenated box office receipts for its Hollywood studios, Bloomberg reports. The company reported net income of 26.8 billion yen ($261 million) in the three months ended in June, compared with 3.5 billion yen a year ago. That compares with the 11.5 billion-yen average loss of four analyst estimates compiled by Bloomberg.

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