Sony Pictures Entertainment Posts Strong Q1 Revenue And Profit Growth Despite Fewer NewFilm Releases
has posted operating income of $381M for the first quarter of this year, up 25.3% on the $232M posted in the same period last year on a currency basis. Revenues grew even more significantly: up a whopping 136.6% to $2.58BN , compared with last year’s $1.87BN.
The numbers were significantly impacted by by local currency movements, with the U.S. dollar in a position of strength as the yen dwindles. Sony noted there had been an increase in series deliveries, higher TV licensing and home entertainment revenues during the April-June period, plus higher sales of streaming services, which included the impact of buying anime streamer Crunchyroll. It’s a great result for Sony, considering it has been a quiet quarter movie-wise, withbeing the only release of note during the period. The Columbia Pictures superhero film actually underperformed, taking just $164M worldwide.
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