Sony Pictures hit rock bottom with fiscal first-quarter profit of $394 million (50.7 billion yen), up 70% from profit of $232 million (25.4 billion yen). ) reported in the same period of 2021.
At the same time, revenue from the Japanese conglomerate’s imaging division rose 41% to $2.64 billion.
Sony Corp. released its latest financial results on Friday from its Tokyo headquarters. The report covered the company’s performance from April to June.
Sony said the imaging division was boosted in the quarter by higher TV series deliveries, higher licensing and home entertainment revenue and better sales of anime streaming services, which resulted from Sony’s acquisition of the specialized anime platform Crunchyroll. The only issue the company cited was a lower number of theatrical releases compared to the prior year period. In the quarter, the company released just two theatrical films on the world market: morbius (US$167 million in total global sales) and dad stu ($22 million), compared to three bonds between April and June 2021.
Sony Pictures’ 2022 annual profit forecast was unchanged from the previous quarter at 50 billion yen, or $386 million.
The company said it has a slate of 17 films slated to hit North American theaters over the next twelve months, starting in July, including extended re-releases. Spider-Man: No Way Home – The funniest version (released September 2, 2022) and the animated tentacle, Spider-Man: Through the Spider-Verse (June 2, 2023).
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
