August 1, 2014 / 12:26 AM / 3 years ago

Sony shares hit three-month high after first-quarter profit beats estimates

A logo of Sony Corp is pictured at an electronic store in Tokyo May 14, 2014.Toru Hanai/Files

TOKYO (Reuters) - Shares of Sony Corp (6758.T) jumped to a three-month high on Friday after the consumer electronics maker's quarterly operating profit unexpectedly doubled, helped by a strong performance in its games and networks division.

As of 0010 GMT, the stock was up 4 percent 1,842 yen after rising as high as 1,880 yen, its highest since April 24.

After the market close on Thursday, the PlayStation 4 maker reported April-June operating profit of 69.8 billion yen ($679 million), easily beating analyst expectations of 16.6 billion yen, though it also cut its full-year smartphone and TV sales forecasts.

Reporting by Chris Gallagher; Editing by Chang-Ran Kim

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