Update for latest…: Sony Pictures Entertainment reported operating income of $179 million for the third quarter ended December 31, 2022. That number represents an 86% decline compared to the same period last year, although it’s been difficult to compare apples to apples here since the third quarter of 2021. A major boost to the phenomenal global box office performance of Spider-Man: No Way Home along with the success of Poison: Let there be carnage.
Lower television production revenues were also cited as culprits for the turnaround compared to the third quarter of 2021, benefiting from the licensing of His field and the lack of a profit from the transfer of the GSN Games business in the third quarter of 2021. Full-year guidance for the segment remains unchanged from Sony’s most recent earnings report, with an expected profit of 115 billion yen ($893, 7 million) for the financial year 2023.
Sony releases are included during the third quarter of 2022 Lyle, Lyle Crocodile which grossed nearly $100 million worldwide and cleverly clung to the UK rights Matilda the Musical by Roald Dahl which by the end of the year had earned $25 million in the market. Whitney Houston: I want to dance with someone had topped $25 million worldwide at the end of December.
The rest of 2023 includes titles such as Spider-Man: Via the Spider-VersePriyanka Chopra Jonas/Celine Dion Photo Sweet weather, Gran Turismo in collaboration with Playstation, Kraven the Hunter and the ghostbusters follow up.
As of this afternoon’s Tokyo Q3 results, Sony Corp’s total revenue rose 13% to 3.4 trillion yen ($26.4 billion), but operating income fell 8% to $3.3 billion dollars.
Sony also announced a change in the group’s management structure, with Hiroki Totoki succeeding Kenichiro Yoshida as group president and adding COO to his titles. Yoshida remains chairman and CEO, while Totoki retains his CFO title.
MORE…
Source: Deadline
Bernice Bonaparte is an author and entertainment journalist who writes for The Fashion Vibes. With a passion for pop culture and a talent for staying up-to-date on the latest entertainment news, Bernice has become a trusted source for information on the entertainment industry.
