Sony shares hit 22-month high as analysts predict record profit

Tokyo

SONY Corp shares jumped to their highest level since May 2015 after a bullish earnings report triggered analyst predictions that the electronics maker could achieve record profit this year.

The Tokyo-based company rose 3 per cent to 3,873 yen at the close in Tokyo on Monday after forecasting operating profit of 500 billion yen (S$6.2 billion) for the fiscal year through March 2018, thanks to continued dominance in gaming and strong growth in phone-camera chips.

While that was mostly in line with the 507 billion yen average estimate, analysts from Goldman Sachs Group Inc to Jefferies Group said Sony could surpass its previous record profi…