On July 30, Sony fell 3.38% in after-hours trading, trading at approximately $22.0 per share, with turnover of $2.667 million. The decline was triggered by the company's quarterly earnings release after the regular session.
Sony reported quarterly revenue of $19.356 billion, up 12.23% year-over-year, but adjusted earnings per share came in at $0.09, representing a 58.61% decline year-over-year, signaling significant profitability pressure. Gross margin stood at 32.57% while net margin was only 2.73%, reflecting margin compression despite top-line growth.
Earlier in the regular session, Sony had gained 3.21% on news that the company submitted a non-binding proposal to acquire Japanese camera lens maker Tamron for approximately 200 billion yen, aiming to make it a wholly owned subsidiary to strengthen its imaging and sensing solutions business. However, the acquisition-related optimism was insufficient to offset post-earnings selling pressure as investors reacted negatively to the deterioration in bottom-line performance.
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