Sony Pictures Entertainment Posts Q2 Profit of $202M; Forecasts for the full year are increasing – deadline

Update for latest…: Sony Pictures Entertainment reported operating income of $202 million for the three months ended September 30, a decrease of 30% from the same period last year. The company said its second-quarter earnings were hurt by a lack of new films licensed for digital streaming services and an increase in marketing expenses to support current year’s theatrical releases.

Similar to the same framework for 2021, however, divisional revenue increased. This time up 3% to $2.44 billion on a dollar basis (numbers heavily impacted by exchange rates given a strong dollar and a falling yen). SPE had a more significant slate of films released this past quarter compared to the second quarter of 2021, including Sleeper Hit Where the crayfish sing which grossed $132 million worldwide, Brad Pitt-Starrer fast train ($233 million worldwide) and a critically acclaimed historical action drama The Woman King ($44 million).

Higher revenue from TV licenses and home entertainment was also felt for films released in fiscal 2021, while Sony cited higher revenue for anime streaming services, including the impact of its Crunchyroll acquisition. the latter released Dragon Ball Super: Superhero in August domestically with sales of $38.1 million.

Currently released in cinemas, Sony has a family picture Lyle, Lyle Crocodile which has grossed over $50 million worldwide to date. War dramas take place on deck for the rest of the year dedication with Jonathan Majors and Top Gun: Maverick‘s Glen Powell and Tom Hanks leads A man named Otto At Christmas time.

Sony has raised its full-year SPE outlook to 115 billion yen ($778 million). Overall, the media and electronics giant raised forecasts mainly due to the weakness of the yen.

Sony Corporation reported an 8% increase in operating profit to 344 billion yen ($2.33 billion) for the quarter, citing gains in music, imaging and sensor solutions and financial services, but also a significant decline in games and network services.

The latter saw operating income fall 49% to 42.1 billion yen ($284.5 million). The company cited increased software development costs, spending related to acquisitions (including Bungie), the negative impact of foreign exchange rates, and a decline in sales of non-first-party titles including add-on content as culprits.

The division sold 3.3 million units of its PlayStation 5 console in the quarter, in line with the same range of 2021, and counts 45.4 million PlayStation Plus subscribers, a slight decrease from the previous quarter. November 9th is the release of God of War: Ragnarok.

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