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Sony Pictures Quarterly Profit Slips to $233 Million

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Sony attributed the decline in earnings to increased production costs and a decrease in sales for the studio's television productions — although it said sales for its motion pictures were up slightly.

Looking ahead, Sony Pictures revised its profit forecast for the full 2021 fiscal year upwards. The company now anticipates profits of $825 million from the pictures division, up from the $760.8 million forecast it issued in April. Total profits for the studio in 2020 were 79.9 billion yen .

At the group level, Sony Corp. reported a 26.3 percent rise in first-quarter profit, benefiting from a somewhat smaller than expected slip in pandemic-fueled demand for its PlayStation 5 gaming products. Operating profit for the quarter rose to $2.57 billion from 221.7 billion yen last year. Sony Corp raised its overall profit forecast for the full year through March 2022 to $8.98 from $8.53 .Sony’s entertainment sales were particularly strong in the music group, where profit climbed 56 percent from $326 million in Q1 of 2020 to $508 million during the period this year.More to come…

 

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Venom 2 will make bank so I'm assuming they'll end the year in a stronger position. Need better writers in there movies though..

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Sony Group Delivers Profit Growth as SPE and Games Earnings RetreatProfit increases from music failed to outweigh declines from film and TV and from games at Japanese electronics and entertainment giant Sony Group. But, overall, the group was able to report a 9% i… Imagine if they still made phones. Sony Sony Pictures might not be for sale but they followed in Paramount's footsteps selling off many of their films to streamers rather than giving them theatrical release including The Mitchells vs. the Machines, Vivo and Cinderella
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Sony Group Delivers Profit Growth as SPE and Games Earnings RetreatProfit increases from music failed to outweigh declines from film and TV and from games at Japanese electronics and entertainment giant Sony Group. But, overall, the group was able to report a 9% i… Imagine if they still made phones. Sony Sony Pictures might not be for sale but they followed in Paramount's footsteps selling off many of their films to streamers rather than giving them theatrical release including The Mitchells vs. the Machines, Vivo and Cinderella
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