Sony Pictures Entertainment records strong first quarter revenue and earnings growth despite fewer theatrical releases

Sony Pictures Entertainment reported operating income of $ 381 million (¥ 50.7 billion) during the first quarter of this year, up 70% from the $ 232 million recorded in the same period last year, on a fair basis. for the currency. Revenues increased 41% to $ 2.58 billion (JPY 341.4 billion), up from $ 1.87 billion last year.

The data was significantly affected by movements in the local currency, with the US dollar holding steady while the yen weakened.

Sony reported higher series shipments, higher revenue from TV licenses and home entertainment in the April-June period, as well as higher sales of streaming services, which included the impact of buying anime streamer Crunchyroll.

This is a very good result for Sony considering it has been a quiet quarter in terms of films. Moebius It is the only noteworthy problem in this period. Columbia Pictures’ superhero movie actually underperformed, grossing just $ 164 million worldwide. Spider-Man: There is no way to go home It was released on DVD in April, already available through electronic sale. Sony noted the lack of releases in its results published this morning.

The next quarter includes where the crabs sing and a hit comedy in Spanish Father there is not more than one 3Both are already in theaters. Brad Pitt’s car High speed train and Viola Davis – in the title role a woman king Both are close to debut.

Overall, Sony Corp had a strong first quarter, with sales reaching nearly $ 17 billion (TN ¥ 2.27), up nearly 55% from a year earlier, with operating profit up 27%. at $ 2.3 billion (¥ 307 billion).

However, the gaming and network services division reported an 11.7% decline in revenue to $ 4.5 billion (604.1 billion yen) and operating income fell nearly 31% to 397. $ 1 million (52.8 billion yen).