Sony Pictures raised its fourth-quarter fiscal profit to $84 million (11 billion yen), a healthy increase from the $2.7 million (300 million yen) loss in the same period in 2021. , increased 27.5% to $3.4 billion.
Sony Corp. announced its financial earnings at its Tokyo headquarters on Wednesday. The report includes results from January to April as well as fiscal 2021 revenue. Total year-over-year earnings rose 172% to $1.67 billion (217.4 billion yen) as prices rose. movie revenue and movie title licenses on streaming services. Recipe. Sony Pictures’ media networks division also showed revenue growth due to Sony’s $1.18 billion acquisition of anime streaming specialist Crunchyroll.
Strong international success of the Marvel tents Poison: Let there be a massacre (US$506 million) and Spider-Man: No Way Home ($1.9 billion) saw a huge increase in annual photo earnings, while the blockbuster licensed $500 million. Seinfeld Netflix also increased revenue from Sony Pictures Television.
Sony Pictures is currently forecasting a profit of $900 million (117.4 billion yen) for fiscal 2022, due to the expected decline in movie sales, with no potential impact. Spider manScale on the horizon.
At the group level, Sony Corp’s operating profit was below analyst estimates by 138.6 billion yen in the fourth fiscal quarter, compared with a consensus estimate of 148.5 billion yen. The conglomerate also forecasts an operating profit of 1.16 trillion yen for the current fiscal year, below Wall Street’s expectations of 1.2 trillion yen.
Sales of Sony’s PlayStation 5 video game console fell in the quarter due to supply chain restrictions. But Sony said tight demand for the device is expected to boost sales to make the PS5 the best-selling gaming console to date.
The company added on Tuesday that it plans to return 200 billion yen ($1.5 billion) of its own shares.
Source: Hollywood Reporter
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